I wrote a blog post about this issue awhile back when I first became aware of what the state of Arizona could propose in the future. Real estate transfer taxes have already been brought up by several committees as a way of generating revenue for the state and local municipalities.
The link to an information website I had posted became inactive when the website was changed from NoNewTaxOnOurHomes.com to ProtectOurHomes.com Because of this I decided to write another piece on it.
Right now, there are 36 states that have some version of a real estate transfer tax. According to AAR, the amounts range from .1% to 2% which, if you were selling your home, adds between $500 and $20,000 to the closing costs. This affects both a buyers ability to buy and a sellers equity in what is most people's greatest asset. With our already slow market, a future transfer tax could be just another burden that keeps our market from rebounding any time soon.
While many more states HAVE a transfer tax than those that don't, there are currently several that are trying to repeal it. It is much easier to prevent an addition taxation than it is to try and stop one after it has been implemented.
Join AAR in passing a constitutional protection that will stop real estate transfer taxes. Visit the website above to get involved and remember...
on November 4th, Vote YES to Protect Your Home!
To see homes in the Phoenix, Arizona west valley retirement communities click on the following links: SunCityGrandListings.com, SunCityWestListings.com, SunCityFestivalListings.com, CorteBellaListings.info or click on the logo below for the complete list.
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