Be on the lookout for a Missouri constitutional amendment in the November 2010 general election. The purpose of the amendment is to prevent double taxation on homes and other properties sold in Missouri. The specific language of the proposal is:
"Shall the Missouri Constitution be amended to prevent the state, counties, and other political subdivisions from imposing any new tax, including a sales tax, on the sale or transfer of homes or any other real estate?"
What is a real estate transfer tax?
It’s a tax imposed by state or local governments, or both, that is collected when you transfer ownership of your home, land or other real estate. Typically, once the tax is on the books; the rate can be increased by the state, city or county without a vote of the people.
Why is this tax unfair?
Missouri homeowners already pay property tax. Many sellers have owned their homes for decades, and they have already paid thousands of dollars in property taxes and other fees. A real estate transfer tax is nothing more than double taxation. There is currently no transfer tax in Missouri and this amendment will keep it that way.
Be sure to vote YES on this amendment in November!
About The Authors: Betty Knowles is a full-time REALTOR® with Coldwell Banker Vanguard REALTORS® in Springfield, MO and proudly serves on the board of the Greater Springfield Board of REALTORS®. She also served as President of Women’s Council Of REALTORS® in Southwest Missouri. Betty’s genuine passion is helping people buy and sell homes in Springfield, Ozark, Nixa, and surrounding communities.
John Knowles is likewise a full-time REALTOR® with Coldwell Banker Vanguard and a member of the Greater Springfield Board of REALTORS®. A self-proclaimed computer geek, John is talented at developing real estate websites, videos, photography, blogs, search engine optimization and other technical skills essential to marketing and selling real estate in Springfield MO.
Together this dynamic team makes up TeamKnowles REALTORS®, Spouses Selling Houses! They are dedicated to doing what it takes to sell your home in the greater Springfield real estate market, or help you purchase a home that fits your particular needs. Give TeamKnowles a call today; you’ll be glad you did!
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