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SAY “NO”! TRANSFER TAX.

Tonight, property owners will be voicing concerns about why the transfer tax will hurt many home and commercial property owners. We expect there to be opposition by those who don’t understand how this tax will negatively effect our community.

Yes— commercial property owners are now subject to also being responsible to pay the imposed transfer tax if passed by the Board of Aldermen and legislative body.

Many property owners have been forced to pay continual increases in real estate tax and water/sewer. We also pay contractors for repairs and upgrades. When contractors pull permits, we pay those costs as they are factored into the job.

If a homeowner or commercial property owner wishes to sell their properties they will be subject to pay a percentage of the sale as a Transfer-Tax.

The BOA has stated this tax would go into a fund to create affordable housing.

But look at the history of our city administration and their failed promises of building affordable housing.

We already pay a fee of $300 for affordable housing through the Preservation Act, implemented some years ago, which was added to our yearly real estate taxes.

Developers are required to create affordable housing yet generally opt out and instead contribute to the affordable housing fund.

So where is the money that has been collected over the last 10 years or more from developers?

We home and commercial property owners deserve better.

Those of us who maintain our properties have created a safe, desirable living space for tenants.

Commercial property owners also provide services and products to our residents and those from outside of our community.

Combined, we contribute to the most tax revenue the city has receives.

It’s important to attend tonight’s meeting and outline why this tax will hurt you and why you feel it is unfair —given the fact that we have been over run by multi-millionaire developers who continue to undermine the governing body of our city and will continue to hurt the homeowners and commercial property owners who have invested in our city for many decades.

Keep in mind, the Right-of-First-Refusal is another bill on the table which will prevent property owners from selling their homes to who they wish— instead they would be forced to sell to existing tenants and the sales could be held up for months. There are more details to follow but please keep this one in mind.

See you tonight at City Hall!

6:00 p.m.