Update: Now, the negotiations begin...

The House and the Senate have each released their initial budget offers. Like all budgets there are aspects we like and aspects we don’t like in both. The House Budget is much worse for the real estate community however.

Nathan Gorton


The House and the Senate have each released their initial budget offers. Like all budgets there are aspects we like and aspects we don’t like in both. The House Budget is much worse for the real estate community however. Not only do they propose a brand new Capital Gains Income Tax, with a new tax on second homes and investment properties, they also increase the gross receipts tax every small business pays by 20%- an increase that would hit nearly 150,000 small businesses across the state. The Senate budget is much more manageable for us. It puts nearly identical money into funding education, actually reduces college tuition for the first time in 30 years by 25%, and manages to do this without taxing the small businesses that create jobs in this state. Now the negotiations begin. We will continue to be active in reminding the legislature that they can pay for education without drastically impacting the real estate market and the agents that practice in it every day. Stay tuned!
 

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