Do You Want A New Real Estate Tax In Arizona?
Many states around the country have imposed a real estate transfer tax. Meaning anytime real estate is bought or sold there is an extra tax to pay. It would be like sales tax on real estate.
There is a new bill named "No New Home Tax Initiative". This bill is being supported by the Arizona Association on Realtors. What it means is that the government of Arizona cannot impose a real estate transfer tax.
In most states real estate transfer taxes has initiated at .001%-2.2%, but once the real estate transfer tax has been given approval the rate can increase to meet future legislative enactments.
Once a transfer tax has been authorized in Phoenix Arizona taxes can be assessed for a new source of tax revenue to balance the government's budget because of over spending.
In Scottsdale Arizona a real estate transfer tax would create double taxation for home owners, damage equity, burden the real estate market further, punishes the home owner, and impacts lower income homes most.
Lets make sure there is never a real estate transfer tax in the state of Arizona! Vote YES to support the "No New Home Tax" initiative.
Date: Monday, March, 24th 2008 @ 09:23:43 AMViews: 535
This blog entry currently has 1 comments posted.
Tom Farley
Hi Anne...
The name of the initiative has changed to Protect our Homes from the No New Home Tax. The new website is www.protectourhomes.com.
We are adding new content to it often, so if it is down when you visit the site it will be back up shortly. Thanks for helping get the word out about protect our homes from the double taxing effects of a real estate transfer tax. By voting YES this fall, voters will approve a law that would prohibit governments from enacting a state and local transfer tax.
Thanks,
Tom