Hello, hope everyone had a great (spooky) Halloween -- me, I'm trying to avoid this dish of candy on my desk. . .
Now for something REALLY S-C-A-R-Y!
Maryland's Governor O'Malley has proposed a tax on Property Management commissions (which for all the Realtors -- is one step from a tax on our commissions -- as if enough hands weren't in our pockets already! Just an aside, if anyone thinks that real estate agents are rich beyond our wildest dreams they don't understand how hard we work just to earn a reasonable living -- it's not easy money, folks!) Anyway, I digress. . .
Here are some hard truths about this proposed new tax:
--The extra cost of doing business will be passed onto the consumer, resulting in higher rents for the over 600,000 renters in the state. Maryland ia already the 7th most costly rental market in the U.S. (according to the National Low Income Housing Coalition).
--Renters who make the average wage already spend 50% of thier income on fair market rents for a 2 BR apartment, which translates into families having to settle for cheaper units that do not meet their needs.
--Homeowners who have a Homeowner's Association and Condo Association wiil see higher dues if this legislation passes, since Property Management companies will also be subject to the tax.
Information taken from the League of Maryland Homeowner's newsletter -- this link should take you to a pdf file of the newsletter: http://www.leagueofmarylandhomeowners.com/Portals/0/documents/nov07.pdf
Comments(0)