Core Issue: Taxes
Taxes relative to the real estate transaction, such as the realty transfer tax, and those associated with homeownership, such as the property tax, are a major burden to buyers and homeowners alike. An increase in any industry-related tax would have a negative impact on housing costs and the industry as a whole.
- PAR monitored action on the FY 2009-2010 budget, which was adopted in October 2009 without any increases in the realty transfer tax or sales tax on services. However, the budget did contain an additional $13.50 fee to be charged and collected statewide by Recorders of Deeds for each document submitted for recordation. PAR opposed the increase.