This site is about the overreaching political power of the NC Association of Realtors flush with money from cashing in your equity 6% at a time, leaving you to pay for growth with property taxes, year after year, with or without cash flow. In the last few years NCAR has pumped millions of dollars into NC political campaigns at the state and local level. They have spent millions more to defeat Local Options for Local Governments with misleading ads.

Tuesday, May 22, 2007

Support The Transfer Tax

The costs of growth are predominantly the costs of building schools and infrastructure. As everyone in the real estate industry, (other than Realtors) knows, in recent years construction inflation has far outpaced normal inflation, as reflected in the Consumer Price Index. With high construction costs and rapid growth many local governments can only turn to property taxes for additional revenue. There is an alternative that 7 NC Counties already have: a Land Transfer Tax option that 6 of those counties exercise. It is time for all NC Counties to have the revenue options that these counties enjoy. It's time to support the Transfer Tax option to provide fair funding for good growth and to ease the property tax burden for seniors and others on fixed or low incomes.

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