I posted about AB670 (Legislation to limit/abolish Private Transfer Tax) several weeks back. It lost in the state assembly which was quite sad.
I would advise people to learn about this issue, especially if you plan to buy a home in the future. Doubly so if you plan to buy a new home from a builder.
New legislation, AB1574 legitimizes Private Transfer Taxes and is going to be considered by the Senate Housing and Transportation Committee next Thurday. I would encourage you all to learn about this and if you oppose additional fees regarding real estate transactions call senator Christine Kehoe and let her know. The California Association of Realtors is sponsering the defeat of this. While most of you abhor this association, in this case, and from what I have read about the legislation, I think the stance by CAR is correct.
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