Ban the real estate transfer tax

Friday, October 29, 2010

In just a few days you will have the opportunity to ban a real estate transfer tax in the state of Missouri. On Tuesday, Nov. 2, remember to vote yes to ban the tax forever. If you don't do your part, it will leave open the opportunity for the city, county and state to impose a tax upon the sale of your home. Buyers and sellers both could be required to pay the tax. This tax could fluctuate and drive up the cost of owning a home. Whether you are buying or selling, it will definitely damage the already struggling housing market.

We have been fortunate in Missouri to be the only state in the region and one of only 13 in the country that does not impose this double taxation. This gives Missouri an advantage over all of our neighboring states. This makes our state desirable to buyers and business owners who wish to avoid the tax when buying homes and commercial property.

Missouri Realtors are concerned about a real estate transfer tax. They want you to know that you can make a difference and protect the value of your home. Do your part and vote yes to protect the future of the housing market in Missouri. Even if you are not planning to buy or sell a home, this tax could affect your children and grandchildren.

If you haven't heard of the tax and you would like to know more, go to To view the official government language, visit the Missouri secretary of state's website at Scroll down to Constitutional Amendment 3 for more details.

Give Missouri the economic boost it needs to become a strong competitor in the United States housing market. Banning this tax can protect the future for Missouri homeowners, business owners and their families for years to come. For more information about how this tax could affect you, call your local realtor.

Wendy Marberry is the chairwoman for the Advertising Committee of the Cape Girardeau Board of Realtors.

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