Raleigh, North Carolina.  State And Local Governments Always Want More.  The 2007 North Carolina General Assembly gave county governments the option, with the approval of local voters, to put a property tax of .4 on the sale of property.  On a $200,000 home that would be an additional $800.00.  Sixteen counties jumped at the chance and put the proposition to the test.  Each one was resoundingly defeated.  Other than being just another burden on tax payers backs it doesn’t make sense for a lot of reasons.

* A transfer tax makes housing just that much less affordable for young families and for those trying to get out of the apartment trap so they can build equity rather than pour their shelter money down the drain every month.  * A transfer tax is no guarantee that property taxes won’t rise as well.  A transfer tax is not a reliable source of revenue since it is subject to ups and downs in the real estate market.  * The tax singles out one group, those who own property, to pay for the infrastructure and services that benefit everyone.  * The tax picks the pocket of those of have worked for their hard-earned equity by further reducing the nest egg they use pay for their children’s college expenses and for retirement.  * It’s not a tax on newcomers and growth. It would be paid by property sellers; the people who have lived in their communities for a long time, have paid their property taxes, sales taxes and other taxes and fees.

The 800 pound government gorilla is trying its best to become a thousand pound gorilla.  For those of you who just can’t wait to vote for the next president might I suggest that you take a good hard look at what they propose and how they propose to pay for it! 

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com