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Transfer Tax being sought in Orange County

By
Real Estate Agent with Keller Williams Chapel Hill
The Orange County Board of Commissioners is looking at ways to increase revenue.  One way is to have a 0.4% transfer tax on all properties sold.  The other way is to increase sales tax by 0.25%.  They are seeking to put this on the May 6th Primary Ballot.  This is not the way to increase revenue in a smart manner.  Much of the area is a bedroom community with not much commerical development to support a tax base.  Increaseing commericial opportunity in the area will help over a long term period.  Orange County also has an impact fee that builders have to pay to start new home in the county, then that house generates property taxes, and when it is sold the seller has to pay excise tax on the property.  Adding another tax just seems too much.  The seller is taxed coming and going.  We need smarter long term planning for growth in the area.
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Anonymous
Max M. Kennedy

I totally agree with the posting above. When will Orange County realize we are taxed enough?

Mar 12, 2013 02:52 AM
#1