the texas legislature supposedly is writing some new tax laws. i wander if appraisers will be affected? appraisers dont have to pay the taxes that a lot of other businesses have to pay. it will be interesting.
Boy will that mess with the AMC's minds.
Fee Quote: $338.49
My first jest was in the assumption that they want a sales taxes. But are they talking about a state wide business tax?? That would not go over too well in GA. That’s what the local municipalities rely on for revenue, and they ain't gonna let the state mess with that.
I already add and "i" tax to my appraisals. Its called an "idiot" tax. If you are dumb enough to pay it, I am smart enought to take it. Not really, but I have thought about adding the "I" tax to my fees to some of my less desirable clients.
Appraisers and realtors were targets, but I think we were missed this year. I'm surprised that there's not a sales tax on home sales, however. Think what a 1% sales tax would bring into state coffers. HOWEVER, there's going to be a special session in Texas regarding school funding due to many school districts being against their cap and not having enough money to operate due to having to send money to other school districts. We may be in the Legislature's cross-hairs again.
Sales taxes on real estate commissions and appraisal fees were considered for taxation in this spring's session of the Arkansas General Assembly. The Realtors lobbying efforts against these measures was the primary reason that both measures failed.