Edge Blog

Below is an excerpt from a St. Louis Association of Realtors' article on the  Missouri Transfer Tax.  View the entire article at: http://slar.org/index.php?option=com_content&task=view&id=122

(Jefferson City, Mo.) – In a court victory for the rights of voters, Missourians will have an opportunity this fall to Vote “YES” to Stop Double Taxation. Cole County Circuit Judge Paul Wilson ruled Tuesday that the proposed state constitutional amendment barring transfer taxes on real estate received enough petition signatures from registered voters to appear on the Nov. 2 ballot.

The court victory means the Vote “YES” To Stop Double Taxation Committee will move ahead with a strong educational campaign for Missourians about the unfairness of transfer taxes. Transfer taxes on home sales are double taxation because Missourians already pay annual property taxes on real estate, often over many decades of ownership.

Missouri is among just 13 states that do not impose a transfer tax on real estate sales, including all of Missouri’s neighboring states. As state, county and city revenues decline, politicians are tempted to impose new transfer taxes - just as Missouri citizens are struggling to make it.

The proposed state constitutional amendment’s language is straightforward and simple:

“Shall the Missouri Constitution be amended to prevent the state, counties, and other political subdivisions from imposing any new tax, including a sales tax, on the sale or transfer of homes or any other real estate?”

The proposed amendment is sponsored by the 21,000-member Missouri Association of REALTORS®, which wants to keep Missourians from being saddled with unfair double taxation that can destroy the American dream of home ownership.

Learn more about the amendment at www.YesToSaveHomes.com