Facts About The Proposed Real Estate Tax Proposal

Did you KNOW…..

This tax will generate 35 Million dollars per year for the next 20 years.  The tax proposal ALLOWS our elected officials to BORROW against this fund immediately.  This will give the politicians OVER a BILLION Dollars to spend in the first few years of the tax.  Do you really want to give politicians this much money to spend?

Due to a loophole in the law, ten percent (10%) of the monies collected, WHICH MEANS MILLIONS OF DOLLARS EACH YEAR, can be used to pay for administrative salaries and appointees to run and manage the program.  This will lead to bigger government and more waste of taxpayers money.  In the event the politicians borrow against the fund, more monies will go towards interest and legal expenses.

The POLITICIANS are happy because they get to spend YOUR money unchecked for twenty (20) years.  The ENVIRONMENTALISTS are happy because they may be employed by the town as consultants and appointees to manage the program. The only group who will NOT be happy with this proposition is the HOMEOWNER, who gets to PAY THE BILL.

The politicians will be coming for YOU this fall … don’t let them steal the equity in your home.  This TAX robs the home equity from you when you sell YOUR home.  The same equity you plan to use for your next home, to send your children to college or for your retirement.  This is not a welcome stranger tax.  Residents who sell and buy another home within the Town of Brookhaven will be subject to DOUBLE TAXATION.  This tax will increase the cost of housing and make our area less attractive for businesses that generate much needed tax revenue.

This tax is due and payable at closing of title.  This means that families will face higher closing costs and need even more income to qualify for a mortgage.  This tax puts thousands of potential buyers out of the market.

Our real estate taxes are already high.  This tax will penalize Homeowners who have paid their real estate taxes each year and then must pay thousands of dollars more when selling their homes