Realtors Brag of Killing Transfer Tax

[Terrel L. Shields]

So, does this mean that LA is non-disclosure state? Were they before the voters passed a constitutional amendment banning transfer taxes?

Frankly, I would like to see ad valorem taxes abolished and replaced with a tax on both deeds and mortgages. You only pay if you sell or mortgage something...a sales tax if you will. That would eliminate the problem of an assessor "guessing" a value for your property and applying that to you...

 

[Bob Ipock]

They killed the concept in NC. Lots of "end of the world" advertising and political whip cracking.

Everything that is good for real estate agent is not good for the country as a whole. It is no different with appraisers......just because something is good for appraisers does not mean it is good for the economy or the country as a whole.

 

[Non Sequitur]

So, does this mean that LA is non-disclosure state?

No, in fact just the opposite. We have some of the most liberal public record laws around.

The whole issue was made up mumbo-jumbo.

They killed the concept in NC. Lots of "end of the world" advertising and political whip cracking.

Pretty much what happened down here. The Realtors implied that a tax was coming and it would average about $10,000 per buyer and seller. Total hogwash.

They also kept repeating that Orleans Parish had a transfer tax which is a flat out lie. Orleans Parish has a "Documentary Tax" which covers a host of recorded documents and ranges from $50-300.