LOUISIANA - DO NOT BE FOOLED INTO VOTING FOR TRANSFER TAX! YES MEANS NO TAX!

Submitted by: Nancy Battle
Transfer Tax on Homes in Louisiana

98% of the people in Louisiana are NOT familiar with this tax on the ballot for Nov. 19. This is a tax that both buyers and sellers of a home in Louisiana will pay at the time of sale of their home if this tax is ever passed . As an example, if you sell your home for $250,000, both buyer and seller will each pay to Louisiana $4,925.00 as a transfer tax. This tax will be a closing cost on the HUD (settlement statement) at closing. And, if this tax is ever passed, it would most likely be raised again in subsequent years. We would encourage everyone who lives in Louisiana to go to the following website:http://www.staytaxfree.com/ On the home page there is a calculator that figures the tax you will pay at closing if this tax is ever passed. This is the tricky part: Most people who are not aware of this tax will just click "NO" on the ballot thinking they are voting against the tax. But, they will then be voting FOR the tax. Voting "YES" prohibits any new real estate transfer taxes in the state. ( Orleans parish already has a transfer tax). Voters must vote "YES" which means "stay tax free." This is an excellent website with great info. This website is sponsored by the Louisiana Realtors Assn which is our watchdog for new taxes. I hope everyone will look at this site and figure what their tax to Louisiana could be just for buying or selling a home . You are just one click away.http://www.staytaxfree.com/ Please pass on to your families and friends who live in Louisiana and probably know nothing about this tax. The Amendment starts with "To prevent"

The Amendment starts out with "To prevent....tax" so vote "FOR"