Real estate transfer taxes are a hindrance to economic development by having a negative impact on housing costs, and are a burden to both the buyer and seller.
House Bill 172 was introduced in May in the House Revenue and Finance Committee. HB 172 would temporarily eliminate the state's portion of the real estate transfer tax for first time homebuyers.
ABD supports HB 172 as lowering the transfer tax will ease the financial burden on lower income households and increase their ability to purchase a home. The reduced real estate transfer tax will offset the increases implemented in 2017 and support individuals and families.
Please write to your representative using the draft language provided to urge their support for a reduction in the real estate transfer tax.
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