Voters in Missouri reject real estate tax

Missouri residents took to the polls this week and voted to ban a real estate transfer tax that would have affected families moving out of their homes in the state.

Amendment 3 was a measure supported by local real estate agents and homeowners that prevents the state of Missouri or local governments from seeking additional revenue by adding a transfer tax on local real estate transactions. Voters supported the amendment in strong numbers, which will add a provision into the state constitution barring future transfer taxes. No such tax or proposal for one currently exists in the state, but local real estate agents say they were looking to head the issue off before it became a problem for relocating families.

"It's a proactive measure," Elizabeth Mendenhall, president of the Missouri Association of Realtors, told the St. Louis Post-Dispatch. Transfer taxes "are a trend we saw growing across the country. As Realtors, we pride ourselves on helping to protect private property rights." The paper added that no organized opposition existed against Amendment 3, which was likely a major reason it passed with such ease.

According to the MAR, 37 states and the District of Columbia currently impose such a tax, and the group said the fees equate to a double tax on homeowners who already pay standard property taxes. Those moving out of their homes in Missouri may have had to pay a lump sum, which might have deterred future home sales, they argued.
 

More News