Realtors urge 'yes' on North Dakota measure banning taxes on real estate transactions
FARGO – The North Dakota Association of Realtors is urging a “yes” vote Nov. 4 on Measure 2, a constitutional amendment that would ban taxes on real estate transactions.
North Dakota does not have transfer or mortgage taxes, but as the state works to lower property taxes, municipalities may look to implement them, Scott Breidenbach, a Fargo Realtor, said at a news conference Thursday launching a “Vote Yes” campaign.
If approved by voters, the amendment, which was placed on the ballot by the state Legislature, would prohibit the state and any political subdivision from imposing taxes on the sale or transfer of residential, commercial and agricultural property.
Minnesota and South Dakota are among 35 states plus the District of Columbia that have transfer taxes, according to the Realtors group.
Breidenbach said the taxes can total thousands of dollars.
Realtor Dave Lanpher said this sort of tax would make it more difficult for potential home buyers to afford a home. He also pointed out that residents already pay property tax.
“Enough is enough when it comes to taxes,” Lanpher said.
The Home Builders Association of Fargo-Moorhead also supports Measure 2, said Bryce Johnson, executive vice president.
The measure is on a crowded general election ballot. Voters will also consider Legislature-proposed measures relating to the inalienable rights to life of every human being at every stage of development, repealing the existing state Board of Higher Education in favor of a three-member commission, forbidding ballot measures that appropriate money, and several initiated measures.