Wendell News Outlet

Will Money Suppress Reason

July 19, 2007

I am saddened and concerned with what's going on in the North Carolina Senate. Despite the realtor-developer lobby's expensive public relations campaign based on distortion and half truths, the Senate leadership had agreed to a compromise involving a 0.4% local option transfer tax (TT). (Down from the 1% WakeUP and others have proposed.) Even this small tax on all real estate transactions would result in new revenues statewide of $300 million to $400 million in the next fiscal year. It would pay-off ten-times that amount in bonds for badly needed schools and other infrastructure across the state without a property tax increase. In Wake it could generate $50 million annually - enough to fund bonds for about 17,000 new school seats (over two years worth), again without a property tax increase. The added revenue would free-up existing taxes for advancing the education of the next generation. Now our county property taxes are being overwhelmed by growth related new construction and major tax property tax increases are around the corner.

But at the 11th hour the compromise collapsed due to threats of retribution from the realtor-developer lobby.

Amazingly, the transfer tax is not dead. A strong defense has been mounted in the House. WakeUP believes this dispute is about more than a tax increase. For almost twenty years the development lobby has blocked similar attempts at alternative revenue sources involving development. A new compromise needs to be put together. You can help by letting senators in the Wake delegation know that you support the transfer tax.

Of the four Senators representing Wake only Senator Cowell janetc@ncleg.net has been a steadfast supporter. She has sponsored a bill including a TT. Please let her know you support her efforts.

For whatever reason, three of our Senators either have equivocated about the transfer tax or simply do not support it. They all have heard about the crisis facing our schools. They are Vernon Malone vernonm@ncleg.net; Richard Stevens richards@ncleg.net and Neal Hunt nealh@ncleg.net .

Neither Senator Malone nor Senator Stevens has taken a clear position. The time for equivocation and "better ways" is past. Senator Hunt tells us he will not support the TT. He has offered another approach involving a sales tax on services. That approach will be more contentious than the TT and may take years to implement. The crisis in our schools is NOW. We need their support NOW. Please keep your message brief and to the point. "I support the transfer tax and I vote." is sufficient. Please mention WakeUP. For anyone with an open mind, our common and repeated message will have an impact.

Stan Norwalk
Unpaid Citizen Advocate
Vice Chairman
WakeUP Wake County
Stann@nc.rr.com

Hot off the press - expose from Independent Weekly.

For more details from the WakeUP Forum of the realtor-developer activities click on this link.
WakeUP Wake County
P.O. Box 6484
Raleigh, North Carolina 27628-6484

WakeUP Wake County is a non-partisan, citizens' group supporting well-planned, sustainable growth in Wake County, North Carolina. WakeUP was formed as a non-profit in 2006 by a group of concerned, civic-minded citizens who believe that growth is good, as long as it is planned to ensure a better future for our communities. Wake County is growing rapidly, with a population due to double in 20 years and 27 acres of land developed each day. Because this growth ultimately affects us all, WakeUP wants to ensure a bright future for ourselves and for those who come after us.
-------------------------------------------------------------------------------------------
There is an article on page 1 of today's News and Observer titled