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Missouri Voters Protect Their Homes from Transfer Taxes

Dennis Norman

In a loud and unified voice, 83.7 percent of the voters yesterday voted in favor of Missouri Constitutional Amendment 3, the ban on future transfer taxes or fees on real estate in Missouri.  In a huge victory for Missouri property owners, this effort, spearheaded, and funded in a large part, by the Missouri Association of REALTORS,  insures that Missouri remains free from this tax that many, including yours truly, consider a form of double taxation.

Missouri is one of only 13 states in the U.S. that do not have a transfer tax imposed at the state or local level on the transfer of real estate.  While some of these taxes or fees are less than 1 percent, in some areas, such as  Philadelphia, these fees can be as high as 4 percent of the price of the property.

 

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