A Statewide Campaign to Prohibit Any New Real Estate Transfer Taxes in Louisiana www.staytaxfree.com. Real Estate Transfer Taxes. They usually take the form of a point-of-sale tax, equal to a percentage of the final sales price or value of the property transferred.
A Statewide Campaign to Prohibit Any New Real Estate Transfer Taxes in Louisiana www.staytaxfree.com
Real Estate Transfer Taxes They usually take the form of a point-of-sale tax, equal to a percentage of the final sales price or value of the property transferred. 36 states and D.C. impose a tax on transfer of real estate. Louisiana Constitution silent on real estate transfer taxes. No tax now, but nothing to stop one from being imposed. Only real-world exception, dating back to 1950s, is $325 documentary transfer tax on residential and commercial transactions in Orleans Parish.
What We’ve Accomplished So Far… 2011: Ideal Timing for Louisiana Constitutional Amendment Prior to session, legislative outreach meetings to preview our main legislative priority for 2011…a constitutional amendment to prohibit any new real estate transfer taxes. Strong anti-tax public sentiment Gov. Jindal does not support any new taxes Pre-emptive move as governmental entities look for new revenue sources to help with shrinking budgets
Success at the Legislature HB 135 by primary author, State Rep. Rick Nowlin of Natchitoches. State Sen. Eric LaFleur of Ville Platte carried the bill in the Senate. Passed the House by a vote of 101-0 on REALTOR®Day (with 90 co-authors) Passed the Senate by a vote of 34-0 (with 29 co-authors) It will be the only constitutional amendment on the November 19th (runoff) ballot
What the Amendment Does If approved by voters on November 19th, the amendment will prevent the state, any parish or municipality or any other political subdivision from imposing any new tax on the sale or transfer of homes or commercial property.
Why You Should Support PREVENT DOUBLE TAXATION Protect homes from double taxation. Most homeowners pay property taxes. Transfer taxes are simply another tax on the same piece of property. PROTECT REAL ESTATE This is no time for a new real estate tax. With the housing market struggling, a real estate transfer tax would make it harder for people to buy or sell a home.
Why You Should Support (cont’d) STAY TAX FREE Keep Louisiana free from additional taxes, especially those that unfairly target homeowners, homebuyers and business owners. ENOUGH IS ENOUGH Outlawing a real estate transfer tax helps send the message that enough is enough when it comes to new taxes.
What We’ve Accomplished So Far… Third-Party Endorsements Statewide Organizations Louisiana Land Title Association Louisiana Home Builders Association Regional Organizations Acadiana Home Builders Association Chamber SWLA Greater Lafayette Chamber of Commerce GNO, Inc. Jefferson Parish Economic Development Commission Jefferson Chamber of Commerce Jefferson Business Council Houma-Terrebonne Chamber of Commerce Pending Shreveport Chamber of Commerce Prior to session, legislative outreach meetings to preview our main legislative priority for 2011…a constitutional amendment to prohibit any new real estate transfer taxes.
What You Can Do Make sure you’re registered to vote Visit the website www.staytaxfree.com and Facebook page www.facebook.com/staytaxfree Engage and inform people within your sphere of influence
Key Dates Nov. 5-12: EARLY VOTING Nov. 19: ELECTION DAY
Thank you for you time! Please remember to Vote FOR Amendment No. 1 on Nov. 19th