The collective voice of North Carolina voters rang out loud, clear and in perfect harmony..."Don't tax the American Dream!" The proposed increase in The Property Transfer Tax was overwhelmingly rejected in 16 counties across North Carolina...including Wake, Durham, Orange, Chatham and Johnston.

According to Tim Kent, Executive Vice President of The North Carolina Association of Realtors..."People sent a message that they absolutely, positively do not want to have a targeted tax on home ownership." The defeat of the proposed tax is largely due to the tremendous support from The North Carolina Association of Realtors and Home Builders...whose combined contribution totalled over $500,000.

Was our voice heard? I think so! Tony Gurley, Chairman of Wake County Commissioners, publicly stated that he had considered pushing to put a transfer tax referendum on the ballot in 2008, but now he is skeptical. If passed, the transfer tax would generate an estimated $43 million a year in Wake County alone. "If it goes down everywhere, obviously, that is a pretty clear message," Gurley said.

Although the real estate market in North Carolina remains strong and stable, if passed, this Property Transfer Tax would have pushed many homeowners completely out of the market...which in turn would have pushed many REALTORS® out of the business. The defeat of this proposed tax increase was a victory for North Carolina's homeowners and all real estate professionals!

"There is simply not an appetite for a new tax on home ownership," said Dallas Woodhouse, State Director of Americans for Prosperity. "County commissioners across North Carolina should immediately abandon all attempts to tax people on the American dream."

Written and Posted by:

Elizabeth Nieves - Broker, REALTOR® -- The Elizabeth Nieves Realty Group @ Keller Williams (A Bilingual Real Estate Team serving Raleigh, Durham, Chapel Hill NC and surrounding areas.)

Visit our website at http://www.elizabethnieves.com