Local Realtors dominate national rankings
Original post made on Jun 22, 2012
Read the full story here Web Link posted Friday, June 22, 2012, 11:24 AM
on Jun 22, 2012 at 11:31 am
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.
on Jun 23, 2012 at 1:39 pm
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!!!!
on Jun 23, 2012 at 5:29 pm
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.