Of course the Realtors are protecting their interests, but they make really good points, too. Critical thinkers must address the arguments not the funding:
-Some say that a transfer tax is a tax on growth. However, it’s the current homeowners who pay this tax when they sell their home; many of whom have lived here and paid property taxes for years. If revenue is needed for services and infrastructure that will benefit everyone, then everyone should pay their fair share.
-It is interesting that the NC Association of County Commissioner and the NC League of Municipalities, the groups that are such proponents of the right to vote on the transfer tax issue, are so steadfast in their opposition to allowing citizens to vote on the issues of forced annexation and limiting local government authority to condemn private property.
-Between 2004-2006 local governments gave away over $400 million in economic incentive packages that induced corporations to locate in North Carolina, resulting in growth. Now these same local governments want to raise taxes on current residents in the form of a transfer tax based upon claims that they need additional revenue to pay for that growth.
-In 2005, the real estate and construction industry directly and indirectly contributed $9.8 billion in local and state revenue. How much more do they need from one sector? When will it ever be enough?
-A transfer tax would require homeowners who sell their property to pay an additional tax. That includes people who are forced to sell because of a variety of life circumstances such as death of a spouse, divorce, job loss or military deployment.
-Two statewide polls show that approximately 80 percent of the public opposes the transfer tax. Over 40,000 emails have been sent to state lawmakers opposing the transfer tax.
-Housing does not cause growth. It is a reaction to it. Housing demand is created by a vibrant economy. Houses are where jobs spend the night.Narrowly based taxes and fees, like the proposed real estate transfer tax, create disincentives to homeownership. Broader homeownership should be encouraged, not discouraged.
We should always oppose new ways for the government to extract resources from us. Isn’t there any inefficiency anywhere in government from which infrastructure revenues can be found? -Max Borders