We read with interest Saturday’s editorial (“Underrepresented on growth”), and we want to make clear that the Frederick County Association of Realtors opposes a real estate transfer tax because it would hurt homebuyers and sellers of existing homes — as well as buyers of new homes.
In a typical transaction involving existing real estate, the buyer and the seller split the cost of a transfer tax. In a new-home sales contract, the buyer typically shoulders the full cost of a transfer tax. However, impact fees, like all construction costs, are reflected in the sales price of the home. Thus, they are financed through the buyer’s mortgage over years or decades. A transfer tax is due as cash at property closing, and in this fragile home market, both buyers and sellers would be greatly affected.
We look forward to representing the taxpayers of Frederick County in opposing a transfer tax on sales of all residential and commercial properties.
MICHAEL KURTIANYK, president, Frederick County Association of Realtors
(17) comments
Frederick County has the highest recordation tax in Maryland. This is not an impact charge as it happens when refinancing your home also. Hopefully, this is addressed too. http://www.wreathtitle.com/pre-hud-gfe-calculators/transfer-recordation-taxes#MD-Rates
If we add Blaine's transfer tax to the existing recordation tax, the total taxes on selling/buying a property would make Frederick county second only to Baltimore city. Not a legacy for this BOCC to be proud of.
Exactly. There has to be a more equitable way. As thump points out, even existing residents causing no impact pay the fees and taxes.
committing yourself to 30 years of suffering for a house with a shared wall is madness. just rent while you multiply your nest egg on wall street like the rich do and buy a nice piece of land cash. cut the worthless banks out entirely, they have been the sole cause of every single financial crisis in our history. that said they give good returns on investments at the right times, so use them as ruthlessly as they use you.
PIxie doo.
I sold real estate in those years. Yes we said we followed,, and yes we did jack up prices all the while knowing what it was going to result in.
I had a partner who spoke Spanish and we did do alot of rigging to obtain down payments.
One guy and his "family" came here from San-salvadore ,, After done with it. He was actualy in tears.
He said he came here with no job, got a minimal pay job, and now bought a huge home and actualy was given the down payment. And to add onto it. he was also given 2500 dollars after closing.
so, I now have a job away from this. And I can say it was a real bad thing to do. Everyone did it.
I commend you for not discriminating against people.
I'm sorry to hear that you wish you had.
Cuts into your budget, does it, Michael? The property tax cuts into mine, let's oppose that as well. It is not the god-given right of every realtor to amass a fortune. Yes, I know not all realtors get rich....I am, however, aware that most costs are passed along to the buying and selling parties. Quit crying and jack up those prices.
So Mike, you're saying that the growth task force being stacked with Realtors is a good thing, and they're not going to rubber stamp Blaine's transfer tax? That's good news!
It's been my impression that those who disagree with Blaine become persona non grata at WFMD radio. Any truth to that? We'll see....
Agreed. This one really was Blaine's idea. I guess even thinking about running for guv put him in a taxing mood.
Most realtors worse then lying lawyers and used car salespeople. LIARS for profit only.Look at Ausherman overcahrging to get very wealthy ,not a crook?/Legal thief.[thumbdown]
ohh , how cute,, In the mean time, I dare anyone to try to file ethics violations against any realtor in Maryland.
Eithics violations are supposed to be seriously taken in Realty. BUT,, just try to find a way to file a charge on the Fredeick County site [ which is NOT required to be a member of for any realty} Or file on the state site,, which does not allow complaints
And in the mean time, where were you with Long and Foster sold every home in Hilllcrest to non english speaking persons,, who every single one turned into rental. Where were you when realtors convinced these people to offer more money than the listed price in order to kick back the down payment.
You are liars, criminals. you are a contributor to the failure of American Success.
"where were you with Long and Foster sold every home in Hilllcrest to non english speaking persons,,.."
Sounds like they were obeying the law (Fair Housing Act, probably) that makes it illegal to discriminate.
Why is that a problem?
Stuckon270. Agreed .They are for themselves only,many overhchanrge when no credit was needed by barney Frank to get rich quick.[thumbdown]
Hey, wait a moment, isn't this the same liberal that wants everyone to pay their fare share?
Life, liberty and pursuit of happiness? or a profit?
In other words, try to be a little genuine and consistent -- I oppose the transfer tax, as well as a host of 30+ new tax increases and additional fees in Maryland -- please thank O'Mom and the liberal DEMs
You have to thank Blaine and Billy and Kirby for the transfer tax. This is their baby.
Lets be honest here, you do not oppose this tax because it hurts buyers and sellers, you oppose this tax because it hurts REALTORS. [wink]
It's OK, stucko. It's good for everybody except the developers.
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