More government in North Carolina, after raising taxes quite literally billions of dollars this year, still have decided they don't have enough money and they want you to pay even more taxes. The city of Durham decided they wanted to charge another hidden tax -- an impact tax -- and so they did, without legislative approval.

The impact tax is a completely hidden tax in that people do not see it. This is the newest favorite tax of politicians for that very reason. The impact tax would add thousands of dollars to any home purchase -- but since most people see only the mortgage payment, most would not realize they'd just been soaked by the county and city for even more money.

In many cases, both the county and the city are likely to charge the impact fee. This would raise the cost of a house by even more, and again, few would notice. Currently there is a lawsuit that says that the counties and cities do not have the authority to raise these taxes. If the ruling is in favor of the city, prepare for ALL house costs to go up at least $1,000-$2,000 immediately.

Either that, or elect good people to represent you in your county and city. I'll let you know when I find any.

Posted by: Ogre at 08:09 AM | No Comments | Add Comment
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