No New Home Tax Initiative may have broken signature record
By Christian Palmer
Arizona Republic
Tuesday, June 24, 2008
Protect Our Homes, a committee supportive of the No New Home Tax Initiative, filed what they claimed to be 375,000 signatures of Arizona voters to qualify for the November ballot.
Arizona doesn't impose taxes on the sale or transfer of homes, but the Protect Our Homes committee said recent considerations by certain legislators and the Citizens Finance Review Commission have prompted opponents of the transfer tax to take action.
"Property owners already pay taxes and this type of transfer tax would be double taxation, and I think we can all agree that's not good policy and it's just wrong," said Frank Dickens, chairman of Protect Our Homes and a board member for the Arizona Association of Realtors.
The committee also argued an added tax would hurt the sagging housing market and hinder owners' ability to profit from the sale of their homes, and that it unfairly forces homeowners to forfeit equity.
Tom Farley, a lobbyist for the AAR, said the initiative would equally protect businesses and private homes from transfer taxes, which could be revisited by governments to help offset budget deficits.
"It seems every time the state gets in a budget crunch they try to balance the budget on the backs of homeowners," he said.
Farley said 36 states have enacted real-estate-transfer taxes when the federal government voided the practice after deeming the taxes a roadblock to affordable housing.
Other supporters include the Arizona Farm Bureau and the Arizona Cattlemen's Association.
Dickens said he is not aware of any active opposition to the campaign, but said the committee will pursue all avenues to inform the public, including direct mailing, media advertisements and outreach by members of interested organizations.
