One of the things we'll be voting on this Saturday is the Louisiana Property Tax Amendment, which will appear on your ballot as Amendment #1.
Many folks, when confronted with the word, 'tax' in the voting booth these days, might instinctively vote 'no'.
But in this case, here's the deal; voting 'no' actually paves the way for future taxes on real estate transfers in Louisiana, when you sell or buy a house or commercial property.
Voting 'yes' on the other hand, prohibits new taxes on those sales either by the state or a parish or city.
We agree with the real estate industry and economic development professionals statewide that new real estate transfer taxes are simply a bad idea.
At a time when our real estate industry is taking off again after a recession, the last thing we need is a new tax to put more burdens on those who want to buy or sell properties here.
So if you want to prevent this new tax, vote 'yes' on Amendment #1 this Saturday. I'm James Smith.
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