Here’s the issue, no spin:
Voting Yes on MO Amendment 3 will prevent government entities in the state of MO from imposing and NEW taxes on real estate transactions.
Many states already impose a tax on real estate transactions–Kansas being one of them. Typically this is a precise figure (in Kansas it’s $2.60 per $1000) or a percentage of the sales price. Because states are always looking for new sources of revenue, and usually that new revenue comes from additional taxes, this admendment would prevent additional taxes on these transactions.
Current closing costs on home sales run into thousands of dollars. Future taxes would only add to these closing costs–for buyers and sellers. In Missouri we already pay property taxes on real estate every year. A so-called ‘transfer tax’ would add hundreds of dollars more to each transaction.
Exact wording of the amendment reads: “Should the Missouri constitution be amended to prevent the state, counties and other policial subdivisions from imposing any new tax, including sales tax, on the sale or transfer of homes or any other real estate?”
Thank you for carefully considering your vote on this issue! You can reach me at email@example.com