RALEIGH- More than three quarters of North Carolina voters are opposed to a statewide real estate transfer tax, according to a Civitas Institute survey released on Wednesday in Raleigh. The poll conducted by Tele-0pinion Research showed that 78 percent of North Carolina voters are opposed to a new real estate tax, while 16% favored the tax proposal.
This survey research parallels a similar poll conducted by The Kitchens Group on behalf of the NC Association of Realtors in early May.
"This survey confirms what we already know, voters are not interested in raising taxes on home ownership. There is no movement across North Carolina to tax the equity in people's homes. Voters know that is a bad idea," said Tim Kent, executive vice president of the North Carolina Association of Realtors.
The proposed real estate transfer tax would be levied against the seller of a home or other property at one percent of that property's value. For example, if you own a $200,000 home, you would be forced to pay $2,000 to the government when you sold your home.
Currently, the real estate market is soft across most of the state. The National Association of Home Builders said new home construction in June is the worst since 1991, according to an MSNBC News Report on June 19, 2007. "The last thing we need to do is to create an environment that is detrimental to the housing market. That's another reason why taxing homeownership is a bad idea," said Kent.
Opponents to the home tax say any additional costs on homeownership of any kind would be a potentially unbearable burden on young couples, working families and senior citizens, thus North Carolina voters are vehemently opposed to any new home tax. According to The Kitchens Group survey, 79 percent of NC residents think the new tax would hurt working families, and 81 percent are opposed to any tax on home equity in any form.
"North Carolina voters get it. They know that a home tax is a tax on their hard work, their success and their nest egg. It's a bad idea and a large majority of North Carolina voters get it," Kent said.
Copies of the Civitas Decision Maker Poll is available at www. jwpcivitasinstitute.org