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North Carolina voters reject land transfer tax

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RALEIGH (AP) -- Voters in 16 North Carolina counties soundly rejected a proposed land transfer tax, leaving local leaders without a new revenue source they hoped to use to handle growth. The anti-tax vote yesterday was a clear win for housing industry trade groups that spent hundreds of thousands of dollars to defeat the idea. Tim Kent with the North Carolina Association of Realtors says the vote was a big victory for housing affordability. The Legislature agreed to let counties raise the tax on land transactions from 0.2 percent of the sales price to 0.6 percent. That would raise taxes by about $800 on the sale of a $200,0000 home. David Thompson with the North Carolina Association of County Commissioners says he expects voters will be more comfortable with the land-transfer tax in coming years. (Copyright 2007 by The Associated Press. All Rights Reserved.)

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Realtors Paid for this Council

And this is what they want. The promise of a quick buck. For those who bought land next to the convention center site, they don't care how bad the plan is, $75 million "invested" next door is going to increase the value of THEIR property. Look at who owns that land and how much money they have given to Saffo, Quinn, Thompson, Padgett, Sparks and Tomey. Realtors win because everyone is too stupid to vote. Maybe you folks that haven't gotten your R.E. broker's license will figure that out when your taxes go up, your house gets burglarized and your waterways are even more polluted. But you'll probably be too busy watching American idol to notice.

taxes

This is only one battle won. These skalywags will stop at nothing to get more of your money!

Comfortable

Does David Thompson with the North Carolina Association of County Commissioners expect voters will be comfortable with mis-managed municipalities, violent crime and illegals in the nebulous "future" as well? We all voted NO to new taxes you dummy!

COMFORTABLE?!?

I THINK what he MEANS is that they will find a way to make it mandatory in the future...a few million in special interest pockets and they will get their way.

Thank god, just another

Thank god, just another source of unwarranted income for our local government to waste.