November 4th 2008 is the big day where the people of this great nation will exercise their rights as Americans and vote for a new President of the United States. Which way you vote on that day is your decision based upon what you feel will be the best choice for your country in the following years to come. I am not writing this to sway you one way or the other on that subject, however I would like to influence your decision if I may on Proposition 100.
In Arizona we currently do not have a real estate transfer tax, however there is nothing prohibiting state or local governments from enacting one at any time. What this would mean is that any time real estate is sold or transfered there would be a tax imposed. Currently real estate is already taxed based upon the value of the property. A transfer tax would unfairly impose a second tax upon sale or transfer.
There are currently 36 states across the nation who have authorized a real estate transfer tax. These tax rates range from a low of 0.01 percent in Colorado to a high of 2.2 percent in D.C. In about 2/3 of the states imposing the tax, the rate is below 0.5 percent of the value of the transfer. This would mean that a $200,000 property being sold or transfered would be taxed $1000 if the tax rate was 0.5%.
We need to stop this before it has a chance to be raised. On November 4th 2008 voting “Yes” on the Protect Our Homes Initiative would prevent Arizona’s state or local governments from ever targeting our homes or property with a real estate transfer tax.
Vote “Yes” to say “NO” and by doing so “Yes” will actually mean NO to:
Double Taxation on our home and property.
Reducing the equity in our homes and property
Hurting lower income families through increased purchasing costs.
Slowing down even further a real estate market that is already negatively impacting many Arizona families.
Punishing homeowners by damaging the most important investment that many of us will ever make in our lifetime and the "nest egg" of our future and our children's future.
For more information on this please visit http://www.protectourhomes.com/home/
Remember Vote "Yes" to say No on Prop 100.