When my wife wants to fall asleep she asks me to explain how a telephone works. Explaining growth and infrastructure has the same effect. Mention taxes and the average person will wake up but upon hearing the trigger phrase "tax base", eyes will glaze over and deep sleep sets in. Call me a somnambulist chaser if you will but I'm trying to raise awareness of the need for local government funding options.
That's why I've created this video: Support Transfer Tax or watch below the fold:
It's no secret that North Carolina's population is growing rapidly. With that growth comes a need for additional services and bricks, mortar, asphalt, steel and concrete to deliver those services.
The costs of growth are predominantly the costs of building schools and infrastructure. As everyone in the real estate industry knows (other than Realtors apparently), construction inflation in recent years has far outpaced consumer inflation, (Consumer Price Index). With high construction costs, rapid growth and, mushrooming Medicaid costs, many local governments can only turn to property taxes for additional revenue.
There is an alternative to property tax that 7 NC Counties already have: a Land Transfer Tax option that 6 of those counties exercise. But that authority needs to be delegated by the NC General Assembly to each of those remaining 93 counties
It is time for all NC Counties to have the revenue options that some counties enjoy. It's time to support the Transfer Tax option to provide fair funding for good growth and to ease the property tax burden for seniors and others on fixed or low incomes.