New real estate tax? Experts weigh in on Amendment 3

Print
Email
|

KMOV.com

Posted on November 1, 2010 at 10:54 PM

(KMOV) – Missouri voters will do more than elect leaders on Tuesday’s election – they will also decide whether or not to stop a tax that does not even exist yet.  

The issue is Amendment 3, which would impose real estate sales tax on transferring real estate.

 

Nearly two thirds of the states in the country already have this tax. But Missouri is not one of those states, and the real estate industry is hoping voters will ban the tax on Tuesday.

 

"As realtors, we're not just interested in sales. We're interested in what's fair to the public, and this is not just a good thing for us to have,” says realtor Mike Travaglini.

 

Saint Louis University law professor Peter Salsich offers this opinion: "Constitutions are designed to express basic policy, not legislate detail. And my concern is this is a form of legislative detail and doesn't belong in the constitution."

Print
Email
|