Letter:
Published: May 17, 2008 12:30 AM
Modified: May 17, 2008 02:41 AM
So Orange County voters don't want a land transfer tax? Do they think their county Board of Commissioners needs to cut spending and get its hands out of their back pockets? Fat chance! They're going to get you, one way or the other.
Sales taxes generate some revenue, but not enough and not fast enough. Let's see, what's left? Ah, property taxes.
Look around. What's selling in your neighborhood? Scratch your head and think, "That house sold for what? You have got to be kidding me." Guess what? The next revaluation, you will be taxed based on what your neighbor gets for his property. It doesn't matter that you have lived in your house forever. You will pay as if you put that much money in your pocket.
I just saw my 5,000-sq.-ft. residential lot jump from $50,000 to $300,000. If you're fortunate enough to own a waterfront lot the same size, it's a cool $1 million tax value. (Shh, let's not tell anyone. The local elite are flying under the tax assessor's radar and being assessed at fractions of what the "summer people" are being assessed.)
So, do I favor a land transfer tax? You're darn right I do!
Gloria Willis
Morehead City
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