Tuesday, March 27, 2007

North Carolina "Home Tax" transfer tax increase in the works

Buying and selling a home in North Carolina might get a little bit more expensive later this year if some local leaders and legislators have their way. NC already has a .2% deed stamp tax (by comparison, Florida's is .7%). But some people in local and state governments are saying thats not enough to fuel North Carolina's growth and want to add an additional transfer tax (Realtors opposing the measure are calling it a "Home Tax") of up to 1% ($1,000 for every $100,000 of the sales price).

Read the full article in the Greensboro News-Record