Ohio is having some school funding issues, too.  I haven't heard any plans, as of yet, but I hope our politicians aren't talking to yours. Wow!  That is like adding a second realtors' commission to every purchase transaction.  I would think that it would really deter people from buying/selling homes.

I would be very afraid that it would just kill the real estate market in your state.  It is going to slow down anyway with rising interest rates.  Just think how much property values would have to rise before someone could recoup the realtors commission and this new RTT?  I'm sure the NAR will be all over this.  They have a VERY strong association and I'm sure they will trying to kill this bill.  I would be shocked if it actually passed.

What really makes no sense to me is that the RTT is only collected when a property transfers.  If the real estate market declines, their potential revenue stream dies.  At least with the property tax it gets paid whether or not there is much purchase activity.

Best of luck,
Robert A. Franco
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