Has anyone heard about the campaign "Protect Our Homes"? 375,000 people in Arizona have and signed the petition to bring this proposal to the voting polls this fall. By the way that was a record for a petition drive in Arizona, which should show us how important this issue is to all of us that live or buy a home in Arizona.
What exactly is this is? It's a campaign sponsored by the Arizona Realtor Association to permanently stop the state government from imposing a "transfer or sales tax" on our homes. A transfer tax would only hurt an already struggling real estate industry and make it harder to sell you home. If the government were able to pass their own tax before this is made permanent, each of us could be on the hook for thousands of dollars when we sell or even transfer our home to a trust.
How would you feel if you had to pay a "tax" just for the privilege of selling your home. In Illinois, depending on the county, they pay up to 7% of the sales price. So let's say you sell you home because of a relocation, your home sells for $300,000, that means you owe the state and local government $21,000. Now our leaders in Arizona may say "well we're thinking of just a 1% tax or maybe a couple hundred dollars". That's doesn't sound so bad.... but that's what most states said to get the bill passed then over time decided they needed to raise that a little, then a little more, etc.
How can you help? By voting "YES" to the proposal this November. By voting YES you would help amend the state constitution so the government could NEVER impose a tax on you property.
The ballet votes are being counted right now and once they are validated I'll be able to bring you more information so watch for upcoming articles on this transfer tax issue! If you'd like to leave a comment about this I would be happy to pass it on to the proper people
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