Real Estate Transfer Tax IS Double Taxation
May 6th, 2010
Your Home – arguable your family’s most important asset. Did you know your equity is at stake? During the last five Oregon Legislative sessions there have been 10 attempts to impose a new REAL ESTATE TRANSFER TAX in the State of Oregon. This tax is an additional tax that would essentially impose taxes twice on the same piece of property. Think about it. Oregon homeowners already pay high property taxes each year. This Real Estate Transfer Tax would be implemented on a purchase or sale of a home based on a percentage of the sale price (typically between 0.1% – 4%), whether or not there is a profit on the sale. Therefore, when you sell your home there could be multiple layers of taxation on a single taxation. You, as a home owner lose hard earned equity just to pay more taxes.
A real estate transfer tax will hurt Oregon’s economy and YOU, making it harder for people to buy or sell a home, adding thousands of dollars to the cost of housing and forcing home prices and rents higher which will make Oregon less attractive for growth, which means fewer jobs. The affect of such a tax will be detrimental to the overall economy of Oregon and the livability that we Oregonians are so proud of.
But the good news…there is something that YOU can do. The Oregon Association of REALTORS are leading an effort to place a measure on the November ballot that will amend the state constitution that will permanently prohibit the imposition of a real estate transfer tax here in Oregon. We must collect 150,000 signatures of registered Oregon voters, to qualify for the ballot. Click here for more information and resources about this important issue.
If you would like to help protect your equity, jobs and our overall economy, please sign the pledge. Together we can Stop the Double Tax.



Are you one of the millions of last minute tax payers? Don’t worry, you are not alone. If you feel the stress and need a break here are a few tax related quotes to help put that smile back on your face:








