Let’s get this correct, the city of Newnan holds a free-form discussion with civic and business leaders, including real estate construction founder William Headley, to find the easiest way to raise taxes for the maintenance of parks, walking trails, traffic congestion abatement, and other amenities. And the proposed solution is a 2 percent real-estate-sales transaction fee (NTH editorial 12/4/16 titled “Real estate tax worth considering”).
Currently the real estate transfer tax is $1 for the first $1,000, and 10 cents for each additional $100 of the sale. Meaning that a $250,000 sale costs about $250 in taxes. Now Mr. Headley is quoted as saying “Nobody really would have a problem with” a new tax to be 2 percent of a $250,000 sale, about $5,000.
Well, apparently I am that “Nobody.” I just don’t see shafting homeowners by stealing by their earned equity in the sale of their home to build bike paths and roads as being productive.
Walter K. Krauth III