A real estate transfer tax is a poor choice of taxation, largely because of its negative impact on property markets and the unfairness of such a narrow-based tax.


DOUBLE TAXATION

  • Amendment #1 will prevent the state, or any parish or municipality, from imposing any new tax on the sale or transfer of homes or commercial property. These kinds of taxes are known as real estate transfer taxes.
  • Real estate transfer taxes are double taxation. Most homeowners in Louisiana already pay property taxes. Transfer taxes are simply another tax on the same piece of property.
  • A home is often the largest asset a person has. Real estate transfer taxes place a big burden on homeowners who work hard to build up equity, only to see some of that equity go to government when they sell their property.
  • Keep Louisiana free from this new tax.

NO NEW TAXES

  • Outlawing a real estate transfer tax in Louisiana helps send the message that enough is enough when it comes to new taxes.
  • We need to keep Louisiana free from additional taxes, especially those that unfairly target homebuyers and homeowners.
  • Government does not need any more of our money. Government should live within its means and stop looking for new tax revenue.
  • Keep Louisiana free from this new tax.


PROTECT REAL ESTATE

  • With the housing market struggling, a real estate transfer tax would make it more costly and harder for people to buy or sell a home.
  • In the current economy, some people are being forced to sell their homes because of a job loss or pay cut. Lower home values mean some may be selling at a loss. It would be unfair to impose real estate transfer taxes on people who are already facing financial difficulties.
  • Keep Louisiana free from this new tax.

 

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