Protect our homes! Prop 100

Protect Our Homes!!!! We already pay property taxes and this would absoluely be catastrophic!
Protectourhomes.com

A yes vote on November 4th on Prop 100 will stop the REET! Yes means no!!!!

From protectourhomes.com...

"What is a Real Estate Transfer Tax?

A real estate transfer tax (RETT) is a state or local government imposed tax that is collected when you transfer ownership of your home, land or commercial real estate. Typically, once the tax is initiated, the rate can be increased by the state, county or city at any time.


Why are Transfer Taxes Proposed?

Too often, this form of taxation serves as a new source of revenue to balance a government's bloated budget caused by overspending. Once this type of tax is put in place, no matter how low the tax rate is in the beginning, it always ends up being raised.

What are the Problems with a Transfer Tax

IT'S DOUBLE TAXATION!

Governments already collect taxes on your property based on the property's value. This new tax would unfairly cause a second tax to impact your home or property.

DAMAGES YOUR EQUITY!

Since the tax is assessed against the total value including the amount you owe on your mortgage(s), the overall equity earned by the seller is decreased.

SLOWS AN ALREADY SLOW MARKET!

In the current slow market, a transfer tax would make it more difficult for people to buy or sell homes. Once a transfer tax is put in place, it can be raised at any time. This costs people buying or selling their homes even more money.

PUNISHES THE HOME OWNER!

A home is often the biggest and most important asset a person has in life. A transfer tax reduces the equity people have worked hard building. People already pay multiple taxes and fees on their homes. This tax will layer on one more significant closing cost you will have to pay.

IMPACTS LOWER INCOME THE MOST!

This tax imposes the higher tax burden on lower income households that typically spend a larger percentage of their income on their home."



Vote YES to PROTECT YOUR HOME on November 4th!


How do you all feel about this double taxation?