Yet another defeat for North Carolina’s land transfer tax. The North Carolina House is moving to repeal the law that gives counties the right to put the 0.4 percent tax hike on the sales of homes and land on the ballot. Early last year I wrote about the tax hike and the complete rejection by voters every time it has been on the ballot — 24 to 0. Tim Kent, who led the NC Association of Realtors effort to defeat the home tax, assessed the impact of the tax on average North Carolinians this way:
“Had the tax been approved in all of those counties, it would have had a $60 million-plus impact annually for people trying to sell property in those counties,” Kent said. “Had those taxes been approved, can you imagine how much more difficult it would be now to try to sell your house?”
