REALTORS® banned them in Arizona, Montana and in my home-state of Missouri. Now we’re taking the state transfer tax battle down south, to ban transfer taxes in Louisiana.
As a passionate anti-transfer tax advocate, I was happy to help Louisiana REALTORS® kick off their campaign last week at the Louisiana REALTOR® Action Spring Conference. The goal is to get this issue on the ballot in November so Louisianans can decide to do away with these taxes that add zero value to our industry and put home ownership further out of reach for middle-income Americans.
State transfer taxes are taxes paid to the state when property changes hands. NAR is officially opposed to these taxes that essentially “double tax” home owners who already pay property taxes.
Right now 36 states plus the District of Columbia impose these taxes on residents. I’m proud Louisiana is being proactive and working to ban them before they get on the books.
NAR is supporting Louisiana’s campaign through the Issues Mobilization Program. The dues increase passed by the NAR Board of Directors at the Midyear Meetings in May will help strengthen this program so more associations can launch and win campaigns like these.
Good luck, Louisiana! NAR is on your side as you create a strong real estate future in the Pelican State. – Elizabeth Mendenhall, 2011 NAR Vice President and Liaison to Committees