Proposition 100 (equity, real estate, property taxes)

[Greatday]

I support Proposition 100 which, if passed, would create a Constitutional Amendment that would prohibit any governmental entity from creating a real estate Transfer Tax on the sale of real estate.

We already pay property tax - and any transfer tax would be tantamount to be double taxed on our property -

Please, vote YES on Prop 100

[Home_Kid]

in this case i dont think it matters. tax is a sticky/tricky subject. if you prohibit tax in one place the govt will find another place to recoup that lost tax, etc....

tax is like moving one pile of rocks, and then moving the rocks again, and then again, ..... and so on, until we have a bunch of tax laws that really didnt accomplish anything....

i agree we should not incur a Transfer Tax, i'm just not sure what the real solution is....

[JonGriffith]

This transfer tax would be a terrible blow to the real estate market and home owners would suffer the worst of it. Every time a home transfers ownership, a tax will be imposed somewhere in the area of 1.5% of the sales price. We pay annual property taxes as it is. I'm for raising the property taxes to help with funding municipalities, but to apply a transfer tax to a real estate transaction will prevent a large number of people from selling their homes.

[LynetteLyn]

Is this the correct prop I heard about on the radio? I heard them mention a site we could go to to see how much more our individual home would cost if this passes/doesn't pass. I'm looking for that sites web address if you can help me please,

[Rick Lee]

I agree that governments will always find the money somewhere, even if they have to borrow it and find a way to pay it back later. But these kinds of taxes are particularly attractive to politicians because they come out people's equity or cash at closing and so they don't feel like they're coming out of your pocket. Our country would be a very different (and better!) place if people wrote a check for their taxes once or a few times a year instead of never noticing how much comes out of their paycheck every two weeks. The gov't should never be able to take money out of a transaction automatically. Everyone should have to write a check for it. That way folks would pay more attention to what government really costs and takes from them.