Home Tax Defeated
People work hard to buy a home. They make their mortgage payments, keep the home in good repair, pay the annual property tax and maybe someday plan to sell and take the equity from that home to buy another or use toward their retirement. But here comes the government, in this case the county aided by the state of North Carolina, they see another way to raise your tax, take another bite out of your wallet. On November 6th, 2007 Union County residents went to the polls and voted against the Home Tax.
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The NC Association of REALTORS®, with considerable support from the NC Home Builders Association and local grassroots efforts in 16 counties, saved taxpayers nearly $51 million annually last November by defeating the ill-fated home tax. But despite voters’ overwhelming opposition to a real estate transfer tax – also commonly known as the home tax – on Election Day 2007, some counties don’t appear to be heeding the message. Commissioners in Caswell and Pamlico have indicated they will put the issue on their May ballots. Polk County commissioners have indicated likewise in November. Other “maybe” counties at press time included Alexander, Avery, Orange, Mitchell, Jackson and Chatham (where voters rejected the transfer tax last November).
INSIGHT Jan/Feb 2008
People work hard to buy a home. They make their mortgage payments, keep the home in good repair, pay the annual property tax and maybe someday plan to sell and take the equity from that home to buy another or use toward their retirement. But here comes the government, in this case the county aided by the state of North Carolina, they see another way to raise your tax, take another bite out of your wallet. On November 6th, 2007 Union County residents went to the polls and voted against the Home Tax.
___________________________________________________
The NC Association of REALTORS®, with considerable support from the NC Home Builders Association and local grassroots efforts in 16 counties, saved taxpayers nearly $51 million annually last November by defeating the ill-fated home tax. But despite voters’ overwhelming opposition to a real estate transfer tax – also commonly known as the home tax – on Election Day 2007, some counties don’t appear to be heeding the message. Commissioners in Caswell and Pamlico have indicated they will put the issue on their May ballots. Polk County commissioners have indicated likewise in November. Other “maybe” counties at press time included Alexander, Avery, Orange, Mitchell, Jackson and Chatham (where voters rejected the transfer tax last November).
INSIGHT Jan/Feb 2008
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