Chatham County | Our Endorsements | Indy Week
Pin It

Chatham County 

Land transfer tax

There's been plenty of debate about the proposed 0.4 percent tax on the sale of real estate that the N.C. General Assembly this year authorized local governments to enact—with voter approval. Realtors and homebuilders decried it as a "home tax" and fought it tooth and nail on Jones Street—and succeeded in getting it reduced from 1 percent. Supporters who see it as a more progressive alternative to raising revenue through increasing property taxes cried foul at the reduction, particularly because it meant that municipalities were excluded from the revenue stream.

But in Chatham County, where voters will face the ballot question Nov. 6, one thing is clear: The fast-growing county needs as much revenue as it can muster for building schools—first and foremost—and other infrastructure to support the exploding population.

County leaders estimate that the tax would generate $2.5 million in 2008-09, the equivalent of a 3.4-cent increase in the property tax. Under an agreement county commissioners struck, 85 percent would be reserved specifically for school needs—projected at roughly $2 million annually over the next several years. In addition, if the land transfer tax passes, commissioners have agreed to reduce the county's school impact fee on new construction from $2,900 to $1,900.

We support a For vote on this referendum.

spacer.gif

Comments

Subscribe to this thread:

Add a comment

INDY Week publishes all kinds of comments, but we don't publish everything.

  • Comments that are not contributing to the conversation will be removed.
  • Comments that include ad hominem attacks will also be removed.
  • Please do not copy and paste the full text of a press release.

Permitted HTML:
  • To create paragraphs in your comment, type <p> at the start of a paragraph and </p> at the end of each paragraph.
  • To create bold text, type <b>bolded text</b> (please note the closing tag, </b>).
  • To create italicized text, type <i>italicized text</i> (please note the closing tag, </i>).
  • Proper web addresses will automatically become links.

Latest in Our Endorsements



Twitter Activity

Most Recent Comments

Nice job handing the country over to Donald Trump, idiots.

One month later... what have we learned? Well …

by BEES on The INDY Endorses Hillary Clinton for President (Our Endorsements)

Wayne Goodwin lost his reelection to many different factors, but one I am sure he never thought to look at …

by insideman on Statewide races (Our Endorsements)

Unforgivable primary endorsements

As was painfully clear to many of us when you endorsed HRC & Trump for their …

by alertcorgi on The INDY Endorses Hillary Clinton for President (Our Endorsements)

I'm going to respectfully disagree that "Howard was correct to support the zoning measure." This particular measure defies any kind …

by Monty Brekke on The INDY’s Endorsements for the Chatham County Board of Commissioners (Our Endorsements)

Vox: The real Clinton email scandal is that a bull---- story has dominated the campaign
(If you agree with her …

by Chris Sites on The INDY Endorses Hillary Clinton for President (Our Endorsements)

Comments

Nice job handing the country over to Donald Trump, idiots.

One month later... what have we learned? Well …

by BEES on The INDY Endorses Hillary Clinton for President (Our Endorsements)

Wayne Goodwin lost his reelection to many different factors, but one I am sure he never thought to look at …

by insideman on Statewide races (Our Endorsements)

Most Read

No recently-read stories.

Visit the archives…

© 2016 Indy Week • 201 W. Main St., Suite 101, Durham, NC 27701 • phone 919-286-1972 • fax 919-286-4274
RSS Feeds | Powered by Foundation