Comments about SB 670 Correa – CAR Sponsored Legislation

Published: March 16, 2007

<strong>EDITORIAL CHARACTERIZES PRIVATE TRANSFER TAXES AS &quot;BOTH WRONG AND SNEAKY&quot;</strong>The &quot;Orange County Register&quot; recently published an editorial supporting SB 670 (Correa), &quot;Private Transfer Tax Prohibition,&quot; C.A.R.'s sponsored legislation eliminating a loophole in existing law allowing developers and others to impose private transfer taxes on unsuspecting home buyers. Titled &quot;Private tax both wrong and sneaky – Homebuyers get ambushed at closing by a builder levy to fund whatever it wants,&quot; the March 2 editorial characterized private transfer taxes as &quot;a scheme by builders to surreptitiously offload their costs to buyers (and) encumber future buyers.&quot;<br /><br />On March 11 in &quot;A stealth tax on homeowners,&quot; &quot;Orange County Register&quot; columnist Steven Greenhut said &quot;Republicans, who hate tax increases, and Democrats, who often complain about corporate profiteering and a lack of affordable housing, ought to quickly make this tax disappear.&quot; He concluded &quot;Builders want more money to pay for things they are coerced to include in their projects. It's easier to buy off the opposition than to fight it. They know they can't always hike the price to reflect these costs, so they want to quietly offload the costs onto present and future buyers through a clever type of tax. It's time to nip this one in the bud.&quot;<br /><br />C.A.R. sponsored SB670 prohibiting these taxes will have some significant opposition. We need ALL REALTOR® voices to be heard in Sacramento to pass SB670! <strong>HERE'S HOW YOU CAN HELP!</strong> Please forward this email and strongly encourage your fellow REALTOR® to sign up as a <a title="blocked::" href="">Legislative Liaison</a> by using the following link <a title="blocked::" href=""></a> <br /><br />For more information on the <a title="blocked::" href="">Sacramento Weekly Updates</a><br />For the <a title="blocked::" href="">C.A.R. Sponsored-bills</a> 

Last modified: March 16, 2007 at 7:03 am | Originally published: March 16, 2007 at 7:03 am
Printed: September 30, 2020