BrokerageIndustry News

Realtor groups mobilize against real estate transaction taxes

Associations use Web sites, ad campaigns to combat tax hikes

Proposals to create or raise real estate transfer taxes, which add real estate transaction costs for consumers, set the lobbying machines in motion at several state-level Realtor trade associations. The North Carolina Association of Realtors in late March launched a campaign to mobilize against a proposed tax that would charge sellers 1 percent of the sale price in home-sale transactions. Realtor groups fear that such taxes will discourage home sales, especially among lower-income consumers. And real estate sales have already slowed in many markets across the country. Transfer taxes can be a recurring issue in cities, counties and states as public officials look for ways to keep money flowing in for public projects and services. The North Carolina trade group launched a Web site, www.itsabadidea.org, to educate consumers about several local and statewide tax proposals, and the campaign features television, radio, direct mail and print ads. There is a transfer tax calculator to figure o...

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