AG 1998 01 20 - Laserfiche WebLink

Home Browse Search

435 DRAFT There was no one else who wished to address the issue, and Chairman Casper closed the public hearing. The motion by Commissioner Mills to hold the advisory homestead exemption referendum with a proposed increase to $65,000.00 died for lack of a second. There was discussion regarding current qualification standards, the impact of an increase on the County budget and support of pending legislation tn .11~ 435 ~vun~es ~o increase the exemption amount. DRAFT Commissioner Carpenter made a motion to place the issue on the ballot with the amount to be determined at the next meeting. Motion was withdrawn after discussion. Commissioner Mills made a motion to put the issue on the ballot with an increase to $25,000.00. Motion was withdrawn after discussion. UPON MOTION of Commissioner Mills, seconded by Commissioner Carpenter and unanimously carried, the Board voted to defer the issue until the meeting on December 15, 1997. Staff will review the impact of the increase of the homestead exemption level from $25,000.00 to $65,000.00 in $10,000.00 increments. Mr. Clifton reviewed the efforts to find alternative revenues (other than higher property taxes) to fund approximately $110 to $120 million in school facility needs over the next ten years. He reported on the work by the Alternative Revenue Sources Task Force, including options considered and the recommendation for a local sales tax and local real estate transfer tax by referendum only. Mr. Clifton commented on concerns of the Realtors and the information which they had distributed in opposition to the proposed real property transfer tax. In response to those concerns, he proposed that the Board allow an exemption to be applied to the first $25,000.00 of the purchase price of a residential unit. Finally, Mr. Clifton suggested that local Realtors modify their standard flat rate real estate commission formulas to reflect their concern for home buyers and sellers in the county. Chairman Casper opened the public hearing at 7:20 P.M. on the proposed one cent sales tax and one percent real property transfer tax referendum resolutions. She limited speakers to three minutes. Uowever, speakers who had signed up to speak were permitted to yield their time to other speakers if they wished to do SO. Mr. Sherrill Laney of Kannapolis supported a referendum for both the one cent local sales tax and one percent real property transfer tax. He criticized the campaign by the Central Carolina Association of Realtors against the property transfer tax and stressed the importance of stable property taxes and good schools. Mr. David Wike and Mr. James Beaver yielded their time to Mr. Laney. Mr. Hank Daniels of 250 Pokeberry Trail, Concord, supported the real property transfer tax. Mr. Jimmy Kee of 377 Union Street, Concord, supported both the land transfer fee and the increase in the sales tax. He criticized the campaign by the Realtors in opposition to the land transfer tax. Mr. Bill Dover, President of the Central Carolinas Association of Realtors, stated the Association supported education and the proposed one cent sales tax but opposed the real property transfer tax. Stating that Senate Bill 716 mandates that the seller pays the tax, Mr. Dover outlined such concerns regarding the proposed tax as its unreliability as a source of revenue, increased cost of home, discrimination against low to middle income property owners and undue hardship on young persons buying their first home. Referencing a recent opinion from the Attorney General's Office, Mr. Dover questioned the legality of the referendum legislation and asked the Board to hold the referendum in August or September in order for the General Assembly to correct the legislation. Also, he denied allegations that the Association had distributed mis-information and stated there is no "standard" real estate commission. Mr. Ralph Fain and Mr. Jim Flowers yielded their time to Mr. Dover. Mr. Jim Scarbrou~h