(Link: http://www.azstarnet.com/dailystar/259724)
Short story: A Tucson City Council committee is pushing for a real estate transfer fee of one percent ($2,000 on the sale of a $200,000 home) that would go into the city's housing trust fund, which pays for home repairs and down-payment assistance for low-income residents.
Same old story: Politicians who are desperate for new revenue to keep spending at high levels are looking around for new pots of money. Many have their hearts set on a real estate transfer tax.
On a theoretical level, it might be good to abolish the state income tax and/or local property taxes, and replace them with a broad-based, low-rate sales tax that is revenue-neutral. Including real estate transfers in the base could make that rate much lower. But the reality, shown by the actions of the Tucson committee, is that many politicians do not want a revenue-neutral tax reform: they just want more of our money. While we’re waiting for systemic reforms, we have to keep them from taking our money and punishing our industries.
More information about Prop 101 is available here:
http://www.protectourhomes.com/home/
Arizona Director
Americans for Prosperity
(Arizona Federation of Taxpayers)
ww.aztaxpayers.org
tjenney@afphq.org
(602) 478-0146
Posts
2 comments:
If you think your property transfer fees are high.... check ours.
http://www.torontorealestateboard.com/LTT_splash/ltt_calculator.htm
No one seemed to care except the Realors but now they are shocked.
Taxes and Politicians.. just seem to go up.
This idea is a very good plan. I like this proposed plan.. Not only that this plan will make the rate much lower but it will also help a lot of people, especially those residents who have low income.. The people will benefit from this plan
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