As we’ve predicted for, well, years now — here comes the “alternative revenue” push. Specifically, a 1% real estate transfer tax that would raise $120 million a year. For comparison purposes, that is roughly double what the county-wide half-cent raises each year.
Ostensibly, the proceeds from the tax would be “earmarked” to build roads, this is because General Fund is short of funds due to spending money on things like, oh, a $160 million Wachovia Arts Tower. This is already the spin job of all spin jobs, but it is only going to get worse.
For now let’s just keep track of recent local tax hikes: business privilege license, water and sewer rates, county property tax, city property tax, car rental tax, hotel-motel tax, and now a direct tax on economic activity in the county.
No way around it — Charlotte does not have a revenue problem, it has a spending problem. And no way the hard-hit taxpayers of Charlotte should get hit with a family mobility surcharge.
