CHARLOTTE NEWS TRIAD NEWS TRIANGLE NEWS SANDHILLS NEWS COASTAL NEWS
separator 750px
Header Background
54º F

Tell Us Your Merry Giving Story
The North Carolina Conference for Women - Jan. 28,2009 at the Charlotte Convention Center
Carolina On Demand
Neighborhood Calendar
Click here to order a copy of a news story.
Advertise on News 14 Carolina
Click here to let us know what you think about News 14 Carolina.
Check your RR Email
CNN.com

Section Header
Thursday, December 4, 2008

Realtors to fight land transfer tax
Updated 06/12/2008 07:56 AM
By: Tim Boyum

While realtors continue their expensive campaign against the tax and the Senate appears poised to possibly vote against the tax as well, there is some strong support from one of the state's top leaders for the counties.
RALEIGH -- Realtors across the state are stepping up their efforts to fight any tax increase on the sale of a house.


The North Carolina Association of Realtors pledged a multi-million dollar fight against what's known as the land transfer tax. It comes as lawmakers battle over the future of the tax as well. Hundreds of realtors filled the halls of the state legislature Wednesday with one simple goal, to let lawmakers know they are serious.


"The Realtors Association has made a $10 million commitment to continue the fight against the home tax as well as other assaults against private property rights," said Tim Kent from the N.C. Realtor's Association.


The tax is taken on a person selling a home. Last year counties were given permission by lawmakers to put an increase of the tax on the ballot to help raise money to build schools and roads.


"The people have already had a chance to vote on this," Kent added. "Twenty times, three out of four voters have said absolutely no to the home tax."


Realtors say it unfairly targets homeowners but counties say without it, they would have to hike property taxes. Realtors are getting help from some lawmakers in trying to keep land transfer tax increases off voter ballots.


Land transfer tax
Realtors across the state are stepping up their efforts to fight any tax increase on the sale of a house.
"Anything that we add to the cost of selling or transferring real estate is just counterproductive," Sen. David Hoyle (D-Gaston) said. "We're trying to do things to spur people to buy, not discourage it."


While realtors continue their expensive campaign against the tax and the Senate appears poised to possibly vote against the tax as well, there is some strong support from one of the state's top leaders for the counties.


House Speaker Joe Hackney wants it to remain an option for counties, and other leadership in the House appears to agree.


"As long as you require voter approval, I don't see any need for major changes," House Majority Leader Hugh Holliman said.


With the House opposing changes, that likely means there will be no change in law and it could end up on ballots in future elections.


So far, only Polk County plans to put the land transfer tax on the November ballot.







Home | Terms of Use | Privacy Policy | Contact Information | Site Map

Copyright ©2008 TWEAN Newschannel of Raleigh, L.L.C. dba News 14 Carolina
Web production by Tipit | Powered by News Gecko
10.11.12.127
Layout image
Weather on the Ones
Send your holiday photos to photos@news14.com
SnapPoll
12-4-08
Are you more or less likely to purchase a lottery ticket in a struggling economy?


Click here for winning lottery numbers.
Triad

Time Warner Cable has all you need to know about the digital transition