Update on C.A.R- Opposed Transfer Tax Legislation – Big Win!
C.A.R. has reached an agreement with Senator DeSaulnier on
its amendments removing C.A.R.’s opposition by making it clear that Senate Bill
1220 does not apply to transfers/sales of real property and will not impose a
transfer tax in the form of a point of sale document recording fee. With these
amendments, C.A.R. is now supporting the measure.
This is a win for REALTORS® and their clients. Thanks very
much to the Key Contacts and local associations for their efforts to help
C.A.R. successfully negotiate to have the transfer tax provision removed from
SB 1220.
President
Troop Real Estate
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