Missouri Amendment 3 Passes in Missouri
A special thank you to all of you who took the time to vote and for saying “Yes” to Amendment 3. The majority vote was overwhelming: 84% voted yes to 16% on the no side. The Yes vote prohibits a transfer tax on the sale of a home in the state of Missouri avoiding double taxation.
The following is a statement from Elizabeth Mendenhall, 2010 President of the Missouri Associations of REALTORS on the amendment’s passage:
“A majority of Missouri voters cast their ballots Tuesday in support of Amendment 3, to protect our homes and property by prohibiting transfer taxes on real estate. The message to politicians was loud and clear: Missourians won’t stand for unfair double taxation that destroys equity, harms families and denies the American dream of home ownership.
“The support of our diverse coalition, including business and labor, urban and rural, along with the bipartisan backing of scores of state legislators from both parties, showed that Amendment 3 was broadly popular, as Tuesday’s results confirmed. The overwhelming support shown by voters for Amendment 3 is gratifying, and we are grateful to have had the opportunity to sponsor this taxpayer protection measure.
“The nearly 21,000 members of the Missouri Association of REALTORS® undertook the Amendment 3 campaign to protect our neighbors across the state from transfer taxes. This is just one more example of action on the continuing concern REALTORS® have for consumers in these tough economic times – because we are in every Missouri community and every Missouri community is important to REALTORS®.”
Will this have any impact on the real estate market? Do you think last nights elections will help revive this current market? Send us your comments and opinions.