Property and taxes

I was somewhat dismayed when I read about the defeat of the transfer tax in the 16 counties that had it on the ballot. Tim Kent, chief executive of the N.C. Association of Realtors, said at a news conference in Raleigh, "Last night was an incredible victory for home-ownership and the protection of private property rights in our state."

I understand Kent's wish to avoid a tax that targets sales from which he makes a living, but his comment is ridiculous. "Home ownership" involves much more than paying a one-time tax when a home is purchased.

"Property tax is a fairer way to pay for public needs" is what other opponents were quoted as saying. But property tax is paid every year, not just once when the home is purchased. If a transfer tax is paid by the seller instead of the buyer and with nearly 100 percent of property sold for more than it originally cost, the tax is paid from the gross profit of the seller, not cash that a buyer would have to save or borrow.

And since when did "private property rights" get protection from real estate taxes?

Winston Hooker Sr.

Cary