Real estate transfer taxes end; women, minorities etc.

Conveyance taxes are way down across New England. Maine, 44% less, Vermont 50%. Maine used its taxes to provide moderate income housing, which it certainly needs, so the loss of tens of millions of dollars will hurt. I was just in Portland which has an incredible stock of old (1880-1920) brick buildings, many of which are in great repair but others that have been foreclosed on and need help. The latter are going for a song – I wish I had the money to do something with one of them.

I suspect that states and even towns like Greenwich are about to discover how much they relied on real estate to round out their tax rolls. They’ll miss them, almost as much as New York will miss those taxable Wall Street salaries.

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3 responses to “Real estate transfer taxes end; women, minorities etc.

  1. Pingback: Instapundit » Blog Archive » OH, GOODY: Obama says trillion-dollar deficits may last years. UPDATE: Missing those evil fatca…

  2. steve bourg

    Property taxes, transfer taxes, what a bunch of awful ways to tax people. I’m glad states (how about fed too) will have to be creative. Unfortunately they’re (Ore, NY, etc) being absurd. What should happen is that those normal taxes should be abolished, and there should simply be fees (for schools, if you have kids), for roads (if you have a car)…….then and only then will taxes get reduced to help our economy grow. Until we get some sense, we’re sunk.

  3. H Tuttle

    When we sold our house in NYC we were amazed that part of the transfer tax went to the MTA (Metro Transit Authority). The MTA constantly cries poverty, but with all the dolts and deadbeats they have on their payroll standing around scratching themselves it’s no wonder – but homeowners are still taxed for it directly.