City Eyeing Tax Increase For Homeowners
CityNews: Top Stories (Free subscription) | yesterday
The 4 per cent property tax hike would be on top of the land transfer tax.
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Transfer Tax
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Funding the Bailout
MauledAgain (Free subscription) | 29/09/2008
A report from BNA indicates that Peter DeFazio, a member of the House of Representatives from Oregon, suggested that the Congress should impose stock transfer taxes as a source of funding the proposed bailout of the financial services industry, but the idea was dismissed. As crafted, the representative's suggestion is too narrow. The existing mess cannot be attributable solely to stock trading, and...
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State rules Downtown building's owner owes $1.66 million
Today's Tribune-Review (Free subscription) | 09/09/2008
The state ruled that Rugby Realty Co. has to pay $1.66 million in real estate transfer taxes as a result of its acquisition in June of the former Westinghouse Electric Corp. headquarters building at 11 Stanwix St., Downtown.
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Whopper Past-Due Tax Bills A Shocker For Hundreds
Chicago news (Free subscription) | 03/09/2008
The City of Chicago has been billing hundreds of people for back taxes, sending past-due notices out-of-the-blue that thousands of dollars are owed in real estate transfer taxes from as long as seven years ago.
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Derivatives: International Tax Handbook
Asiaing.com (Free subscription) | 03/09/2008
Covering 49 countries, this handbook contains commentary from KPMG member firms on corporate income tax, VAT, withholding taxes and transfer tax issues for derivatives. For many jurisdictions we have also included an example of a typical derivative transaction.
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Small-business owners support effort to limit government health insurance mandate
The Business Journal of Phoenix (Free subscription) | 02/09/2008
Arizona small-business owners support ballot measures to restrict government health insurance mandates and prohibit real estate transfer taxes. State voters will consider the referendums in November.
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Proposition 100: Protect Our Homes Act
The Phoenix Real Estate Guy (Free subscription) | 01/09/2008
Currently the State of Arizona does not impose a “real estate transfer tax” (RETT) on the sale of a home, land, or commercial real estate. However, 35 other states plus the District of Columbia do impose such a tax (source). What is a real estate transfer tax? It’s pretty much exactly what it sounds like. It is a [...]
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Clay County voters reject transfer tax
NewsObserver.com - Local & State (Free subscription) | 31/08/2008
Clay County voters overwhelmingly rejected a real estate transfer tax referendum in a special election Friday.
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"out of the mainstream or question the status quo"
BlueNC - Comments (Free subscription) | 25/08/2008
That's really funny. Because, in North Carolina the mainstream is against the transfer tax, but we're pretty much universally behind it. In North Carolina, the status quo says to let children die for lack of health care, but we're against it. In North Carolina the Democrats in power think it is a good idea to cut taxes for the rich and to take away services for the poor, and we rail against it. Odd,...
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Tax Hikes Producing Less?
Second City Cop (Free subscription) | 23/08/2008
Once again, the Laffer Curve rears its head : Despite higher ridership, the CTA is leaking money due to higher fuel and labor costs, while losing out on expected revenue from the real estate transfer tax and from an increase to the local sales tax. Both increases were part of the bailout that averted massive service cuts this year. Last January, the state legislature found new revenue for the CTA,...
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Homes correction for Aug. 16
atHome Top Story (Free subscription) | 16/08/2008
An Aug. 9 article about Sentex Homes' Estates of Guildwood development contained incorrect information. Sentex will pay the Toronto land transfer tax but not the Ontario land transfer tax. It will credit the purchasers of the final six home sales along Portia St., not all 17 house sales, with a $3,000 credit. The credit may be used to purchase a one-year GO transit pass but a GO pass is not included...
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Private Trust Companies
Wills, Trusts & Estates Prof Blog (Free subscription) | 12/08/2008
The IRS has recently released Notice 2008-63 which solicits comments on a proposed revenue ruling on the income and transfer tax consequences of family members creating a private trust company to serve as the trustee of trusts in which family...
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Yes the transfer tax is one
BlueNC - Comments (Free subscription) | 11/08/2008
Yes the transfer tax is one of those measures that when looked at objectively really a common sense measure to deal with infrastructure needs. Too bad so few actually look beyond the surface. There are actually two options when the vote fails not one. As you said raise property taxes, but also I'm afraid there is also the option of doing nothing. As my daughter prepares for her first year in high...
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Transfer Taxes
BlueNC - Comments (Free subscription) | 11/08/2008
I was born and raised a Republican -- and taught to immediately feel a bit ill the minute someone mentions the word "tax." I later realized that they party had been overtaken by business interests and shifted to the Democratic side. Someone needs to start an ad campaign calling the transfer tax the "Development Tax." What people often neglect to mention is that commissioners will either get that tax...
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Lying Realtors and Stupid Selfish People
BlueNC - Comments (Free subscription) | 11/08/2008
Given that the property transfer tax has been uniformly rejected statewide, and by wide margins, it's not just "Rabid, Bill O'Reilly worshipping, Fox News believing, don't tax me, Christians rule, Bush is God Republicans" who oppose it. It was even soundly defeated in Orange County. I had no idea that the home of UNC-CH was a center of right-wing thought. Here in Moore County, the transfer tax lost...
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