Protect Double-Taxation of Real Estate in AZ

May 7, 2008

Currently, there are no sales or transfer taxes on real estate in Arizona. However, in theory, the government could enact such a transfer tax at any time.   arizona property tax

There is an initiative, led by the Arizona Association of Realtors, to place a protective vote on the November 2008 election ballot.

According to Tom Farley, CEO of the AAR, “we are on course to make the required 230,000 registered voter signatures to place a statewide real estate transfer tax ban on the November ballot.”

Voting Yes in November would pre-empt a future move by the government to charge real estate sales and transfer taxes on your real estate, homes and properties.

The initiative would provide protection from:

  • Double Taxation - you already pay property taxes
  • Loss of Equity - sales tax would be on total value, thus less net equity upon sales
  • Increases in the cost of Selling your home - higher sales costs, thus higher price you need to sell your home
  • higher proportionate impact on lower-income homes - taxes in any form most impact lower income families that use a higher percentage of their income on spending
  • Punish Home owners - home owners should not be punished for moving which helps invest in our economy

You can visit www.AARonline.com , www.rallinow.com and www.NoNewTaxes.com for more information.

Tell everyone you know to get out and

Vote YES in November.

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Copyright © 2008 By James Wexler, All Rights Reserved. *Protect Double-Taxation of Real Estate in AZ*

Contact James Wexler (480) 221-8080 for all your Phoenix Scottsdale area Real Estate needs.

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