October 29th, 2010 9:31 AM by Rob Robbins
November 2nd is a very important date for Americans to voice their opinions on who they want to represent them and how they feel on specific issues. We have a very important vote for the State of Missouri on Amendment 3.
Amendment 3 in simple terms is to stop our state from adding new taxes to real estate sales in the future. We are surrounded by states that charge a transfer or sales tax when someone sells a property. The reason they do this is to increase the state income so they have more to spend or cover what they have already spent.
In Missouri, this has come up for a vote several times in the past and has not passed. They keep trying because they need the money. This is a double taxation where you pay real estate taxes and they want additional tax when you sell.
In the Branson area market using an average of what other states charge ( 2%-4% ) it would average about $ 4000.00 per single family home when you sell. Think what it could be for higher priced properties and farms.
The homes that I have been selling this year have sellers that are distressed and buyers with limited funds to close. If we added $ 4000.00 to most of those sales they would not have happened.
Vote yes on Amendment 3 and stop double taxation! The Amendments will be on the back of your ballot.
Rob
