Friday, September 21, 2007
The County Commissioners are asking the Henderson County Voters to OK a new land transfer tax of .4% which equals $400 per $100,000. There is already a $1 per $500 tax on land transfers which would equal $200per $100,000 . The housing industry is in a little trouble right now and adding another tax will make it difficult on sellers. With the average sale price in Henderson County 0f $252,000 would mean that the seller of a home would net $1008 less in their pocket at closing. I am not sure how this Tax is fair when only a portion of the residents will pay. A lot of these folks are selling to move closer to relatives and to Assisted Living Centers. To most of these folks the proceeds of the sale of their homes has to sustain them through the rest of their lives and they need that $1008. You already have property taxes, you can't target one part of the population unfairly. Only 3.8 percent of the land parcels sell in any given year. How is this not a discriminatory tax? With the amount of Foreclosures going on right now if a seller had to make up another $1,000 this might be the straw that breaks the seller's back. I am for equal taxation. County Manager Steve Wyatt is quoted as saying the majority of revenue comes from property taxes and this is a way to tap another source. How is that? He is still trying to tap property owners! I think the County Commissioners need to go back to the drawing board. What do you think!