California Pols Come Up with a Property Transfer Tax of Up to $60K
By M Dowling
California politicians came up with a new scam to get around Proposition 13. They will charge up to $60k-per-house for a “Property Transfer Tax.” Given the cost of homes in California, everyone will pay tens of thousands of dollars.
California Democrats are imposing a “Property Transfer Tax” that charges 5-6% on every home sale—based on the sale price, not on your equity. Based on the average price of a home of $700k-$1M, that is a cost of $42,000 to $60,000 out of your pocket!
Instead of raising taxes, politicians should cut the waste, fraud, and abuse they have allowed to run rampant in state and local government for years!
But because Democrats want your money under this unfair tax, they are pouring millions into a campaign to defeat the Save Prop 13 Initiative.
California wants a share of the home’s entire selling price, not just the equity. Greedy politicians won’t stop wasting money on programs that have nothing to do with government. They do it for votes.
Socialist Democrats think your money is theirs for the taking.
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