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.... .. -ire <br /> NORTH CAROLINA ASSOCIATION OF REALTORS®INC. <br /> 2901 SEAWELL ROAD, P.O. BOX 7918, GREENSBORO, N.C. 27417-0918 • 919/294-1415 <br /> REALTOR® <br /> EQUAL HOUSING <br /> OP <br /> OPPpFiUN�Ity <br /> April 6, 1987 <br /> Ms. Shirley E. Marshall <br /> Chair <br /> Orange County Commissioners <br /> Hillsborough, North Carolina <br /> Dear Ms. Marshall: <br /> The North Carolina Association of REALTORS is opposed to all forms of real estate <br /> transfer taxes. I regret that a prior commitment makes it impossible for me to <br /> appear at the public hearing on a possible Orange County real estate transfer tax <br /> this evening. I would request that you accept this letter as my statement on this <br /> important issue. <br /> A real estate transfer tax is discriminatory. The tax will affect only a small <br /> segment of the population of Orange County — real estate buyers and sellers. <br /> Additionally, a large proportion of this tax burden will fall on lower priced <br /> property, since they resell much more often than the more expensive properties. <br /> The revenue from a real estate transfer tax is unreliable. Since the transfer <br /> of real estate fluctuates with the swings of our economy caused generally by <br /> factors beyond the control of local or state government, such a tax would create <br /> an unreliable revenue base. <br /> Finally, a real estate transfer tax is simply unfair. The North Carolina Asso- <br /> ciation of REALTORS is concerned about the "housing gap" in North Carolina. This <br /> tax has a direct negative impact by widening the gap between families who can <br /> afford decent, sanitary housing and those who cannot. A transfer tax is definitely <br /> anti—housing. Infrastructure, such as roads, water, sewer, etc. , are every <br /> citizen's responsibility. <br /> I urge you and every other Commissioner to vote in opposition to any form of real <br /> estate transfer tax in Orange County. <br /> Respectfully/ submitted, <br /> /614,04 <br /> Thomas H. Heffner <br /> President <br /> President President-Elect Treasurer Executive Vice President <br /> Thomas H.Heffner James A.Basinger,Jr. Nick Angel <br /> 137 E.Rosemary Street 121 Colonial Avenue P.O.Box 748 James Box Bichsel <br /> Chapel Hill,N.C.27514 Charlotte,N.C.28207 P.O.Box N.C.2 <br /> 919/968-4951 Kernersville, -43 27285 Gre®919/29, .C.27417 <br /> 704/376-7579 919/996-4302 919/294-1415 <br />