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435 <br /> <br /> There was no one else who wished to address the issue, and Chairman Casper <br />closed the public hearing. <br /> <br /> The motion by Commissioner Mills to hold the advisory homestead exemption <br />referendum with a proposed increase to $65,000.00 died for lack of a second. <br /> <br /> There was discussion regarding current qualification standards, the impact <br />of an increase on the County budget and support of pending legislation to allow <br />counties to increase the exemption amount. <br /> <br /> Commissioner Carpenter made a motion to place the issue on the ballot with <br />the amount to be determined at the next meeting. Motion was withdrawn after <br />discussion. <br /> <br /> Commissioner Mills made a motion to put the issue on the ballot with an <br />increase to $25,000.00. Motion was withdrawn after discussion. <br /> <br /> UPON MOTION of Commissioner Mills, seconded by Commissioner Carpenter and <br />unanimously carried, the Board voted to defer the issue until the meeting on <br />December 15, 1997. Staff will review the impact of the increase of the homestead <br />exemption level from $25,000.00 to $65,000.00 in $10,000.00 increments. <br /> <br /> Mr. Clifton reviewed the efforts to find alternative revenues (other than <br />higher property taxes) to fund approximately $110 to $120 million in school <br />facility needs over the next ten years. He reported on the work by the <br />Alternative Revenue Sources Task Force, including options considered and the <br />recommendation for a local sales tax and local real estate transfer tax by <br />referendum only. Mr. Clifton commented on concerns of the Realtors and the <br />information which they had distributed in opposition to the proposed real <br />property transfer tax. In response to those concerns, he proposed that the Board <br />allow an exemption to be applied to the first $25,000.00 of the purchase price <br />of a residential unit. Finally, Mr. Clifton suggested that local Realtors modify <br />their standard flat rate real estate commission formulas to reflect their concern <br />for home buyers and sellers in the county. <br /> <br /> Chairman Casper opened the public hearing at 7:20 P.M. on the proposed one <br />cent sales tax and one percent real property transfer tax referendum resolutions. <br />She limited speakers to three minutes. However, speakers who had signed up to <br />speak were permitted to yield their time to other speakers if they wished to do <br />SO. <br /> <br /> Mr. Sherrill Laney of Kannapolis supported a referendum for both the one <br />cent local sales tax and one percent real property transfer tax. He criticized <br />the campaign by the Central Carolina Association of Realtors against the property <br />transfer tax and stressed the importance of stable property taxes and good <br />schools. Mr. David Wike and Mr. James Beaver yielded their time to Mr. Laney. <br /> <br /> Mr. Hank Daniels of 250 Pokeberry Trail, Concord, supported the real <br />property transfer tax. <br /> <br /> Mr. Jimmy Kee of 377 Union Street, Concord, supported both the land <br />transfer fee and the increase in the sales tax. He criticized the campaign by <br />the Realtors in opposition to the land transfer tax. <br /> <br /> Mr. Bill Dover, President of the Central Carolinas Association of Realtors, <br />stated the Association supported education and the proposed one cent sales tax <br />but opposed the real property transfer tax. Stating that Senate Bill 716 <br />mandates that the seller pays the tax, Mr. Dover outlined such concerns regarding <br />the proposed tax as its unreliability as a source of revenue, increased cost of <br />home, discrimination against low to middle income property owners and undue <br />hardship on young persons buying their first home. Referencing a recent opinion <br />from the Attorney General's Office, Mr. Dover questioned the legality of the <br />referendum legislation and asked the Board to hold the referendum in August or <br />September in order for the General Assembly to correct the legislation. Also, <br />he denied allegations that the Association had distributed mis-information and <br />stated there is~no '~standar~' real estate commission. Mro Ralph Fain and Mr. Jim <br />Flowers yielded their time to Mr. Dover. <br /> <br /> Mr. Jim Scarbrough, Attorney speaking on behalf of the Homebuilders <br />Association, stated the need for adequate funds for school facilities as well as <br />the need for affordable housing in the county. He stated the real estate <br /> <br /> <br />