Arizona Proposition 100 - Protect Our Homes
From the Arizona Secretary of State web site: "This Initiative prohibits the government from charging any new tax on the sale or transfer of real property in Arizona. Currently, there are no real property sales or transfer taxes in Arizona. However, the government could enact a real property sale or transfer tax at any time. This Initiative would prohibit the enactment of any new real property sales or transfer tax by a constitutional amendment."
Click on "Read more" to see a synopsis of the pros and cons and find more information about this ballot measure.
Will you vote in favor of Proposition 100?
1) Yes, Arizona's Constitution should include such a prohibition.
2) No, the State of Arizona doesn't charge it now, so a constitutional amendment isn't necessary.
Advocates of Proposition 100 say: "While, Arizona currently does not have a real estate transfer tax, there is nothing that prevents a tax from being enacted at any time. With our current slow economy and budget crisis, it won't be long before cities, counties, and the state start looking for new sources of revenue. . . . Just last year a bill was introduced in the state legislature proposing such a tax. Countless citizens' commissions and county reports mention a transfer tax as a possible source of revenue for the state."
Opponents of Proposition 100 say that: "PROP 100 will change the constitution of Arizona to protect real estate corporations and developers. Changing our constitution to protect wealthy special interests will cripple our state's ability to support the needs of a growing state....it will have long-term damaging effects on public education."
UPDATE: Proposition 100 passed with 77% of the voters voting yes.
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Comments
Prop 100 is a SCAM by developers to avoid paying assessments for the impact their moneymakers (new subdivisions, etc) have on our communities. If this passes, the developers are off the hook and instead WE ALL will pay higher property, sales, and income taxes to entirely fund the new schools, sewers, roads, etc. instead of those reaping the benefits of the new housing developments.
Thats not correct. Do you own a home in Arizona, I am guessing not. VOTE YES!
Tommy is 100% correct. VOTE YES!
The following is copied from the arguments “for” the proposition section and is well put….
A real estate sales or transfer tax is both unfair to Arizonans and bad fiscal policy for our economy. Since home and property owners already pay annual property taxes, an additional tax, levied at the time people buy, sell or even transfer ownership of their home into a legal trust or to a family member, would be double taxation. Proposition 100 will protect the equity that people have worked so hard to build in their homes and property, equity that would be negatively impacted by the increased costs associated with a real estate sales or transfer tax. Further, our initiative will help keep housing affordable in Arizona by preventing a rise in closing costs and will allow more Arizonans and their families to purchase a home or property while protecting those living on a fixed or low income.
Again, please vote YES!