The Ouachita Citizen: Story Archives: Proposed amendment heads off tax



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Story Archives: Proposed amendment heads off tax

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Proposed amendment heads off tax

by Michael DeVault - posted Thursday, November 10th, 2011 @ 12:55 pm

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When voters go to the polls Nov. 19, they will be asked to consider an amendment to the state Constitution that would prohibit the levying of any new taxes on real estate transactions.
Amendment 1 would prohibit state and local governments from imposing taxes or fees on the sale of homes or property.

Such taxes and fees could have a significant affect on the Louisiana real estate market, according to a statewide organization that represents realtors.

Carole Horn chairs the Louisiana Realtors tax steering committee. According to Horn, Amendment 1 prevents double taxation.

"Most homeowners in Louisiana already pay property taxes," Horn said. "Real estate transfer taxes are simply another tax on the same piece of property."
.....

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