Realtors pledge more...
Despite a 20-0 record against counties, the NC Realtor's Association has pledged a $10 million dollar campaign to continue it's fight against any land transfer tax increase.
Here's my story from today..
RALEIGH -- Realtors across the state are stepping up their efforts to fight any tax increase on the sale of a house.
The North Carolina Association of Realtors pledged a multi million dollar fight against what's known as the land transfer tax. It comes as lawmakers battle over the future of the tax as well.
Hundreds of realtors filled the halls of the state legislature Wednesday with one simple goal, to let lawmakers know they are serious.
"The Realtors Association has made a $10 million commitment to continue the fight against the home tax as well as other assaults against private property rights," Tim Kent from the NC Realtor's Association said.
Realtors are fighting what's known as the land transfer tax. It's a tax on the person selling a home. Last year counties were given permission by lawmakers to put an increase of that tax on the ballot to help raise money to build schools and roads.
"The people have already had a chance to vote on this," Kent added. "20 times, 3 out of 4 voters have said absolutely no to the home tax."
Realtors say it unfairly targets homeowners but counties say without it, they would have to hike property taxes. Realtors are getting help from some lawmakers in trying to keep land transfer tax increases off voter ballots.
"Anything that we add to the cost of selling or transferring real estate is just counterproductive," Sen. David Hoyle (D-Gaston) said. "We're trying to do things to spur people to buy not discourage it."
While realtors continue their expensive campaign against the tax and the Senate appears poised to possibly vote against the tax as well, there is some strong support from one of the state's top leaders for the counties.
House Speaker Joe Hackney wants it to remain an option for counties and other leadership in the house appears to agree.
"As long as you require voter approval, I don't see any need for major changes," House Majority Leader Hugh Holliman said.
With the House opposing changes, that likely means there will be no change in law and it could end up on ballots in future elections.
So far, only Polk county plans to put the land transfer tax on the November ballot.