An open discussion on the real estate transfer tax increase

We’ve all seen the headlines: Springfield’s pending transit solution is now wrapped up in a rather hefty increase in the state’s real estate transfer tax. The bump could be as much as 40 percent, according to today’s Trib article.

In a comment on a previous entry, Dmac called the move “disgraceful” and questioned why the state was heaping abuse on “part of our economy that’s already taken a beating.”

What do you think? Is the transfer tax bump the right choice for a reliable transit solution? Or will homebuyers respond by steering clear of a market that’s already rife with deals?

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