Real estate transfer taxes are a fixture in some states and localities...and starting to rear their ugly head in Arizona, too. This January, Tucson started charging a sales tax only on condo-conversions.
A real estate transfer tax punishes homeowners who move from one house to the other, is biased against people with lower incomes, damages equity and creates double taxation.
The Arizona Association of REALTORS® is lobbying hard for an amendment to the state constitution to prevent these insidious taxes from being used anywhere in the state.
Support NO NEW HOME TAX by voting yes on the ballot measure. For more information on how to protect your home and property from double taxation visit www.rallinow.com
Kent Simpson
Specializing in Buyer Representation in the Tucson, Arizona real estate market.
"Never forget - Real Estate Is About People"
I agree! Our state is trying to pass the same thing!!
Thanks for commenting, John - California has a long history of taxation, citizen revolt and sneaking in new taxes...but I guess it isn't that much different of a cycle than anywhere else!
Thats what we have here.......Property Transfer tax of 1% on the first 200,000 and 2% above, each and every time a home owner purchases another home..........If new construction theres another 5%........hows them bananas?
Liz - how do the buyers deal with an extra 5%? Is it possible to roll the transfer tax into the loan without much trouble? Sounds like highway robbery to me!