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New Hampshire Legislative Update: House Bill 868

Important Update for New Hampshire Home owners and REALTORS.

Yesterday members of the New Hampshire Association of REALTORS attended a public hearing of the House Ways and Means Committee in an attempt to fight the proposed House Bill 868.

The battle waged was important and like all thing in life there were many twists and turns along the way. Yesterday a few of us attended the hearing or ventured to Concord to sign and register our opposition and the outcome was not what we wanted because there was an unexpected change/amendment to the original bill...however the new amendment which would require an increase in the Transfer Tax by some 4% is something we also strongly oppose! You can read more about this important issue on my blog.

Below I've re-printed the announcement by the NH Association of REALTORS.

Special Announcement

Legislative Update: House Bill 868

Thank you to all REALTORS® who took the time to call members of the House Ways and Means Committee following Wednesday’s Board of Directors meeting, and particularly to the 20 who attended Thursday’s public hearing to oppose House Bill 868, the proposed increase in deeds recording fees to support LCHIP.

In a turn of events, the prime sponsor of HB 868, recognizing the flaws in the bill’s original language, offered an amendment which, rather than increasing the deeds recording fee, would increase the real estate transfer tax by 4 percent.

Despite the amendment, REALTORS® remain fundamentally opposed to the legislation, as it would still mean an additional real estate tax and a dedicated fund. NHAR testified in opposition to both the original and amended bill at the hearing.

The House Ways and Means Committee will now schedule a work session for next week to further discuss the legislation and the concerns of NHAR and other interested parties.

We’ll continue to keep you informed as to the bill's status and how you can help as this legislation works its way through the process.

Thanks for your continued support.

Jay and Monika McGillicuddy

Prudential Verani Realty

Hampstead NH

603-548-7728

Posted by Monika McGillicuddy~NH Real Estate Broker on 03/23/2007 07:50 AM

Comments (9)

nh real real estate, new hampshire legislative update, realtors, new hampshire association of realtors, monika mcgillicuddy

This post has been included in New Hampshire Information

9 Comments on New Hampshire Legislative Update: House Bill 868

MAR

2007

Monika-your dedication to real estate and your NH customers shines thru here. We'll be waiting for the final outcome.

Thanks Sue :)

Monika, 4% is a huge amount of money on a transaction, I hope you guys are successful on defeating this.

Thanks George for stopping by. Seems like there is no end to this issue! The fight will continue.

Monika -- FYI I posted an announcement about this legislation prior to your blog. Thanks for keeping everyone updated. The good news is that Senator Larson seems to be very concerned about affordability of housin and it is unlikely that there will be an increase of the transfer tax. We had an interesting discussion today at the Public Policy Committee Meeting and got a lot of insights from Stewart Lamprey-- We have our work cut out for us!

MAR

2007

Monika - I can never understand why they continue to see the buyers and sellers as a never-ending source of funding various things like this. Enough is enough - I really hope that legislation gets soundly defeated. Geez.....

Thanks for the update!
Ann

Joan,

Sorry, I didn't see your update. I think we need to spread the word far and wide about this because an increase in Transfer Tax is just not right! NH transfer tax is high enough as it is!

Ann,

Some times I think they look at real estate as a gravy train!

Thanks so much for commenting Joan and Ann!