This is a tough economy right now, with declining home values - especially in Arizona, rising gas prices, rising food prices, lower employment rates…all causes for concern for everyone. We all need to be aware of these economic changes and do what we can to protect our interests and secure our futures!
Homeowners, like me, in particular need to be especially vigilant in their efforts to save money. With property values decreasing so significantly, we need to do what we can in hopes that this declining market will slow and ensure that we can all hang on until we break out of this! That being said, there is a very important and detrimental issue looming over the heads of Arizona property owners…the threat of Double Taxation.
What Does Double Taxation Of Arizona Property Mean?
Well, in a nutshell, double taxation means that Arizona property and home owners are in jeopardy of paying a second tax nearly 2% of the value of the property when they sell or transfer ownership! Although all property owners currently pay property tax on their real estate, there is a possibility the government will impose this new tax to be collected upon sale or transfer. This effectively would be a double tax to the property owner. In this economy, who can afford that?
Do We Really Need To Worry About Double Taxation?
Yes, don’t be naïve. This is a genuine concern and a very real possibility. The government is growing at a rate greater than what current taxpayers are paying in the way of revenues. The way to increase revenues to fund government is to raise or impose new taxes. The Real Estate Transfer Tax has already been authorized by 36 states across the nation. Don’t let Arizona be the next state to fall victim of this tax. We can’t afford it!
What Can We Do To Avoid Double Taxation?
We can all do something about this looming threat by our government. There is an initiative going around that encourages all Arizonans to Vote against this Arizona Real Estate Transfer Tax. The Initiative is called the which has been created by a group of concerned citizens backed by the Arizona Association of Realtors®. A YES Vote means NO to Double Taxation!
This initiative is an effort to amend the Arizona Constitution which would permanently prohibit this new tax. A YES vote would prevent the state legislature or any special interest group from ever enacting this tax! You should Vote YES to protect your home from double taxation! A YES Vote would actually stop the Arizona state or local government from ever imposing our homes or property with a real estate transfer tax!
Can Double Taxation Of Property Be Stopped?
Yes, if we all do our part and join together, with this initiative, the threat of double taxation can be permanently stopped! There are advocate groups as well as industry partners that are in support of this initiative. Seek them out and help them support and defend this cause.
PropertyNut.com is one such partner that’s acting in great support of homeowners and Real Estate Agents alike in hopes of protecting their interests and hard earned equity! PropertyNut.com will be backing the efforts of the Real Estate Community and Arizona property owners as a whole. PropertyNut.com will actively participate in email campaigns, newsletters and advocacy donations with a portion of all marketing revenues from their website going to the efforts of this initiative!
In this real estate market and this economy, to add the burden of a transfer tax onto an already seriously suffering real estate market is ludicrous, bad timing and just plain thoughtless! Let’s work together to stop this! Go to ProtectOurHomes.com to Vote YES and prevent this tax!
