![]() ![]() The measure is also written to apply to the current tax year, which frankly makes no sense. One county commissioner, Shusheela Jayapal, said she believes the county would make the tax match up with federal IRS code, but pointedly does not support the measure. Proponents say if the measure passes, the county can go in and include those exemptions in the language-but we’ve heard next to nothing about the practicalities, legalities, or political will of the county commissioners to do so. Without them, for example, it could mean big tax bills for low and middle income seniors who want to sell their homes to finance their retirement. ![]() ![]() This measure does not include these exemptions. Federal tax code includes exemptions on home sales in which profits are less than $250,000 for single people and $500,000 for married couples, as long as the home is a primary residence. The tax would apply to the sales of stocks, bonds, valuable collectibles, and property. While the intent is good, the measure’s failure to specify exactly how that tax would be calculated and collected is concerning. ![]()
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