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Original post made
on Jun 22, 2012
Maybe it's time for a tax on real estate income. Given how wealthy these businesses are, and how much they charge for what seems to be a "red hot" market--maybe it's time for a 15% real estate agent's tax.
Congrats. to Mary Gullixson who found me my little old house in South Palo Alto some 26 years ago. I guess she's gone onward and upward to large estates in Woodside and Atherton now.
My little 1,500 sq.ft. nest I paid $185,000 for probably wouldn't interest her now!!!!
Why tax specifically realtors but not any other business individual whom makes a similar income (e.g. stock broker, venture capitalist, the many employees of high tech companies here who become instant millionaires after their companies go public). I would say those all benefit from timing and being in the right market at the right time. I guess paying nearly 50% in state and federal income taxes PLUS ridiculous advertising costs to market a property still doesn't seem like enough is coming out of their pockets. If we go along with your line of thinking, we should increase the capital gains taxes on the home owners too...I mean just this year alone home values in Palo Alto have gone up 20-25% since last year...and home owners have not had to do ANYTHING to reap those benefits.
Isn't it ironic that at the same time Palo Alto non profits go begging? See Palo Alto on Line.
The Human Relations Commission holds meetings every second thursday - check out their City of Palo Alto Human Relations Commission web site to find out what you can do to help.
I know that many of these top sales people contribute (see prior PA Weekly articles.)
Maybe they could use their voice to help lead the community members
to act at this time on behalf of the elderly and homeless.
It would be nice to see more recognition of the negative impact on Palo Alto that certain agents are having. [Portion removed.]
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