Comments on: Proposition 100: Protect Our Homes Act

By: Gary from Family Law London

Gary from Family Law London — Thu, 18 Jun 2009 10:11:19 +0000

I do think it’s a bit of an unfair tax. We have a similar thing here in the UK. Always have done as far back as I can remember, and people just accept it.

By: Recent Links Tagged With "stamp" - JabberTags

Recent Links Tagged With "stamp" - JabberTags — Sat, 01 Nov 2008 06:49:16 +0000

[...] public links >> stamp Proposition 100: Protect Our Homes Act Saved by HM4ever6345 on Fri 31-10-2008 Thank You Tiles Saved by yehoshuk on Sun 26-10-2008 Can [...]

By: Gene Urban

Gene Urban — Mon, 06 Oct 2008 22:01:54 +0000

Hi Jay,

Just doing some research on Prop 100 as I am speaking to a group next week asking them to support the proposed amendment.

An item of interest Craig Sanford passed on is the fact that the transfer of real estate does not simply occur when you buy/sell a home. It also happens, legally, when you take it in or out of a trust; when you change your name due to marriage/divorce, or when you gift real estate.

I am told that some states have not exempted these forms of transfer and people are paying the tax every time they modify the real estate portions of their trusts, get married and such. Can you imagine the surprise on a homeowners face when they get a tax bill for several thousand dollars simply because they made changes to their trust or refinanced a home held in a trust?

Another area of interest is what happens when a home goes to foreclosure? Does the homeowner owe the transfer tax? Does the bank take on the debt? Is the tax passed on to the new owner after a successful REO sale? Heaven knows the tax won’t be forgiven.

Besides this being a punitive taxing method, the can of worms it opens is potentially frightening… and I am not usually afraid of worms.

As always, I love and respect your work. You do much to make our profession better.

*Gene Urbans last blog post..Proposition 100 … Our Opinion

By: Kevin

Kevin — Wed, 01 Oct 2008 00:11:30 +0000

I find it funny that the same people that are voting yes to this proposition are the same people who send their kids to public schools and constantly complain about the overcrowded classrooms and programs being cut. This tax isn’t going to mean much to people who may sell their home once every 5 – 10 years. It is really getting at new home builders, developers and large businesses who are making tons of transactions every year, many of whom don’t even reside in AZ. All of the hype to prevent this is coming from the very wealthy and being disguised as a protection for the middle class in order to create a rally cry to keep this from going into effect. If you are a player in the real estate industry I can see why this scares you. If you are a normal, every day citizen, especially one with children in school, the right vote is NO!

By: Jay - The Phoenix Real Estate Guy

Jay - The Phoenix Real Estate Guy — Mon, 08 Sep 2008 04:48:35 +0000

Robert –

You have to be a resident of Arizona in order to register to vote here. Since you are Wisconsin residents, you wouldn’t be able to register to vote in Arizona.

If you could, there would be nothing stopping you, for example, from voting for President in both Wisconsin and Arizona.

This snippet about what defines Arizona residency may help:

Because many residents in the state are really just technically seasonal inhabitants, it’s important to know what legally constitutes “residency” before you start transferring all your documents. The following define you as such:
* You work in Arizona in an occupation that is not seasonal agricultural labor
* You have children in the Arizona school system and do not pay a nonresident tuition rate
* You own a business that has an office, base, or vehicles operating in Arizona
* You have a state license or pay the same school tuition fees as resident
* You own a business whose vehicles transport goods or passengers within the state
* You reside in Arizona seven or more months of every year

By: Robert Militano

Robert Militano — Mon, 08 Sep 2008 01:16:20 +0000

My wife Jo Ann and I just bought a winter home (secondary residence) in Sun City, AZ. Will we as Wisconsin residence be able to vote on Proposition 100 (RETT)? If so, can we vote online as we do not plan to be down there until after the elections. Thank You. Bob Militano

By: myrtle beach rentals

myrtle beach rentals — Fri, 05 Sep 2008 23:33:45 +0000

we have some issues in Myrtle Beach where they want to get rid of the Bike weeks, to replace the tourism money the county owns they are planning to raise taxes.

anytime the county looses money one place, real estate taxes seems to be where they try to make it up at

By: Joseph Bridges

Joseph Bridges — Tue, 02 Sep 2008 23:03:26 +0000

Jay,

We have this in CA and I hope you guys stop this from happening. We have a county transfer tax in LA and some cities tax on the city transfer tax as well. It is never a pleasant thing for the seller to find out that they have to pay this so we wish you the greatest success on fighting this.

By: Russell Volk

Russell Volk — Tue, 02 Sep 2008 20:10:56 +0000

In Philadelphia, we have a 4% transfer tax, which is equally divided between the buyer and the seller. Surrounding counties have a 2% transfer tax, which is also equally divided. Since in real estate everything is negotiable, this tax often becomes a major negotiating point. Many times, buyers will want the seller to pay the full transfer tax, just so they don’t have to bring a lot of money at the closing. This is especially true for first-time home buyers.

Website Bucks County Real Estate

By: What Does A State Do When It Loses Its Precious Tax Monies? Leverage A New Real Estate Tax! Why You Should Vote “Yes” On Proposition 100: The Protect Our Homes Act | The Arizona Housing Bubble | Watching The Arizona Real Estate, Credit, Lendin

Tue, 02 Sep 2008 18:14:36 +0000

[...] agents in Arizona are also against this and are writing about it as well. As Jay Thompson put it on his blog: A YES vote on Proposition 100 would amend the State Constitution and prevent the [...]