The Battle Against Private Transfer Taxes on Real Estate in South Carolina

Anderson, SC - June 14, 2010 - (RealEstateRama) -- Private transfer taxes are a new and troubling development in real property law. Private transfer taxes allow for private parties to impose real estate transfer taxes or fees on the sale of real property. Private transfer taxes are similar to the real estate transfer tax, except that it is a private party that collects the fee upon every single sale of a particular home, rather than a governmental entity

Full article: The Battle Against Private Transfer Taxes on Real Estate in South Carolina ...

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  • What is Real Estate Transfer Tax?
    The Real Estate Transfer Tax is a tax on the transfer, sale or granting of real property or an interest in real property. The tax is also due on transfers of interests in “real estate holding companies”. The current tax rate is $1.50 per $100 of the price or consideration for the transfer, half payable [...]...
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    Washington, DC - August 16, 2010 - (RealEstateRama) -- The National Association of Realtors® today commended the Federal Housing Finance Agency for taking steps to restrict government-sponsored enterprises – Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks – from investing in mortgages with private transfer fee covenants....
  • North Carolina Citizens Say “No” to the Home Tax
    Greensboro, NC, November 7, 2007 — By an overwhelming margin, citizens in 16 counties resoundingly defeated a real estate transfer tax on Tuesday night. The proposed transfer tax, also known statewide as the “home tax,” would have resulted in property owners being forced to pay an additional tax just for the privilege of selling their [...]...

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Articles Category: Laws & Taxes

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  • Statement from Treasurer Clint Zweifel following approval of his plan to provide housing for Missourians with special needs
    JEFFERSON CITY, DC - August 20, 2010 - (RealEstateRama) -- On Wednesday, State Treasurer Clint Zweifel called on the Missouri Housing Development Commission to pass his plan to create housing to tackle homelessness and mental illness. The plan required no new spending; instead it leveraged existing federal and state resources. Following is a statement from Treasurer Zweifel on the approval of a new version of his plan that now includes funding for two housing developments focused on chronically homeless individuals, those suffering from a mental illness, Missourians with a physical or developmental disability and youth aging out of foster care: