No on 79 – No Real estate transfer tax

I’m opposing the Realtors’ ballot measure 79 even though that’s my occupation – here are some reasons  why:

First, what they are. Transfer taxes are a small dollar amount a buyer or seller pays at the time a house is sold.  They are a negligible amount considering a home’s cost and typically go to fund a community resource.

In Oregon, there are no plans for any transfer taxes.  This measure proactively nixes the theoretical future possibility of them existing.

There is only 1 existing Oregon jurisdiction that has a transfer tax – WA county.  It is a mere 0.1% of the cost of a home.

Transfer taxes can pay for anything the community wants, like: schools, affordable housing, and economic development.  These are items a new homeowner will benefit from.

As the WWeek says, “If Oregon someday wants to consider a transfer tax, lawmakers should be able to debate the idea, and local voters can make their own decisions.”

There’s no need to pre-empt a problem that doesn’t exist.

That’s why I’m voting No on 79.