A proposed constitutional amendment on Louisiana’s November 19 statewide ballot to prohibit taxes on the sale of homes or businesses would damage the ability of state and local governments to provide revenue needed to support health care, education, and other essential services.
Here is an excerpt:
Real estate transfer taxes (RETTs) are charged on the sale of immovable property, such as homes or businesses, and are generally paid by buyers. Louisiana is among 37 states and Washington, D.C. with some form of real estate transfer tax, either at the state or local level. . .
. . . While there is currently no movement to establish RETTs outside Orleans Parish, a Constitutional prohibition against all such taxes would unnecessarily tie the hands of future policymakers at the state and local level as they grapple with budget challenges. . .
. . . As state government continues to retrench, it has been asking parishes and municipalities to shoulder an ever-increasing share of the cost for public education, transportation and other critical services. Parishes need more flexibility, not less, as they cope with these challenges. Amendment 1 is a step in the wrong direction.
To read the full commentary, go to www.labudget.org and read “Constitutional Amendment No. 1 Would Make It Harder To Provide Essential Public Services.”