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The proposed transfer tax increase

By Steve Candelori
Posted Wednesday, January 17, 2007

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Pittsboro, NC - I agree with David that this property transfer tax on "other people" is a tax on everyone in some way, eventually. It is most definitely a tax on all landowners and want to be landowners in Chatham County. Joy's comment about staying put on their land in Chatham to avoid being subjected to the 1% transfer tax gives me the unhappy grins.

Who wants to be a prisoner on their own land to avoid the tax?

Yes, builders, bankers and realtors will figure out a way to "hide" this expense but the buyer or seller will still pay for it. Suppose that this new tax becomes law. How long will it stay at 1%? My guess is: not long.

It may creep up slowly, maybe a fraction of a percent at a time until we see it in the 3 to 5% range. For those out there that want Chatham to be un-attractive to development this tax is ideal. This tax punishes those coming and going. Imagine, a tax to move away.

What is wrong with the notion that expenses for the county be reviewed and reduced? Does anybody out there in chatland have experience managing large budgets? I an confident that there is some waste that can become savings. After all the only way to justify a tax increase is to spend everything, plus some and still be in need. I call on the county commissioners to share some budget numbers with the taxpayers.

I oppose the tax for several reasons that I have already expressed and for reasons that I won't mention now. One that I'll close with is this: No government, large or small, has ever taxed their way out of poverty into wealth.

 
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