Transfer Tax referendum fails in Orange County | |
Despite the growing need to pay for schools, parks etc. in local communities, another referendum to permit a tax on real estate transfers failed on election day in Orange County. Perhaps the $200,000 spent by the realtor lobby prevented citizens from truly understanding how growth could be paying for the costs of growth. Check out WakeUP member Linda McCarley's letter-to-the-editor that lays the facts on line... What ads don't say. "The defeat Tuesday of a 0.4 percent land transfer tax in Orange County is another example of the rich manipulating the public. The ad campaign (of over $200,000 from N.C. real estate interests) said there is a better way to pay for schools and parks. But what way? The ever-popular remedy of increasing property taxes (the only real home tax)? More sales tax? A quarter-cent sales tax is not enough to pay for what is needed, and sales tax revenue doesn't keep up with growth. But the ads don't say that. Most real estate transfers are on commercial or raw land -- not homes. In most cases, a transfer tax on a private home is passed on to the buyer. So the tax is paid in a 15- or 30-year mortgage. Where's the pain? Or (gasp!) the homeowner asks the Realtor to take a lower fee to compensate. But the ads don't say that. Realtors and developers keep profiting from growth, while we taxpayers pick up the bill. Too bad citizens believe everything they see on TV. And too bad citizens and government officials don't have the bucks to go on TV and say the things that the ads don't say." |
It's just $25 -- please send in your 2008 Membership Dues! | |
WakeUP Wake County is growing -- we have over 500 supporters! The work we are doing -- to promote good growth planning and how to pay for it -- is expanding too. We need each of you to help support this organization financially to help sustain our efforts. Please go to WakeUP's website and contribute your first annual dues of just $25 today. If you like what you see WakeUP doing, please consider making a donation of $35, $50 or $100. These funds will help us secure greater, sustaining funds from foundations this year. Thank you for your support!! |
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