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But seriously, we know they aren't going back where they came from ... why should they? It's beautiful and it's cheap. Please take down the For Sale Signs at the NC border - we're being inundated!
posted by uniquematerial at 10:30 AM
3 Comments:
Okay, I guess I'm a dumb eh? But what, exactly, is a transfer tax? Seems to mean that someone moving from Somewhere to Elsewhere should pay extra when he gets to Elsewhere?
Not quite, Frank.
A transfer tax is similar to a stamp tax. er...
Let me back up.
A transfer tax, in this case 1%, is money paid to county governments when a piece of property is sold. It's a one time only thing for that sale and the $ is used to pay for infrastructure only.
Not into a general fund. Not for salaries. Not for anything other than growth related infrastructure. i.e. Water, sewer, schools, fire departments, EMS, roads - all those things that are stressed to the limit by explosive growth. And I do mean EXPLOSIVE growth.
Currently, the only option we have to pay for these things is property taxes and bonds.
Right now, the rates are reasonable but that won't continue to be the case for much longer. Bonds have to be paid back. The amounts are staggering.
I'm not the sharpest tool in the shed but I know that a one time tax when I'm *selling* - which can be put into the asking price, is a lot less painful than an increase in property tax that goes on forever.
I personally prefer an impact fee on new builds only - but hey, I'm willing to compromise.
I'd put it in a blog post but you're the only one who stops by any more.
Thanks for dropping by. Need a top off on that coffee? Here, have a Danish. Raspberry creme cheese this morning. ;)
Gee Unique, I'm supposed to watch my diet...
Tell ya what. I'll close my eyes when I eat it. ;)
And thanks for the explanation. That sure does seem like fairer (ie: less painful) tax than then alternatives.
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