Raleigh, N.C. — The North Carolina Association of Realtors has launched a statewide media campaign to fight proposals for a land transfer tax being considered by state lawmakers.
The tax is part of a menu of local funding options under consideration at the General Assembly looks for ways to help counties meeting growing infrastructure needs. Other ideas include a local-option sales tax, impact fees and a tax on new mortgages.
“The people of the state, and homeowners particularly, really despise transfer taxes. (It's) a tax that strips the equity from the homeowner when they sell their property,” Rick Zechini, director of regulatory affairs for the Association of Realtors, said Monday.
Various bills would give each county the right to charge a 1 percent tax on every land sale. That would cost someone selling a $200,000 house, for example, an extra $2,000.
“Ultimately, it’s (a homeowner's) money, not anybody else's,” Zechini said.
The campaign will include radio and television spots, direct mail pieces and an informational Web site at www.itsabadidea.org.
The battle might even get personal. There are indications that group could target individual lawmakers in future media campaigns.
Local government leaders said they think the need for new schools, roads and other infrastructure to keep up with growth would overwhelm the ad campaign.
“We don't see them as controlling the message,” said Rebecca Troutman, director of research for the North Carolina Association of County Commissioners.
Property taxes pay for the bulk of local infrastructure needs, but they don't generate enough revenue to keep up with growth, Troutman said. Taxing residential and commercial property sales is a logical way to bridge the gap, she said.
“It's not just the homeowner. In fact, what we think it would do is it would ease up on the homeowners' burden when it comes to property taxes,” she said.



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March 28, 2007 9:09 p.m.
Please tell us how *you* would choose to pay for schools or roads. That information is not on the "itsabadidea" web site. If you have a legitimate and serious plan -- let's talk!
I suspect you don't and are just concerned about the housing market alone. As usual. Guess what: if we don't solve the challenges of growth, you won't have to worry about the housing market. Because folks won't want to live here.
Love and kisses,
Durham-Raleigh
March 28, 2007 2:54 p.m.
March 28, 2007 7:07 a.m.
Let's not empower the politicians by giving them more money to waste. Let's tell them to fix the problem and quit wasting our money, or we will find someone who will!
March 27, 2007 4:24 p.m.
http://www.fairtax.org
March 27, 2007 4:17 p.m.