RALEIGH — The state House has taken the first step to repeal a 2007 law that gave North Carolina counties the chance to raise the local tax on land and home sales, something that’s never been approved by county voters.
The House gave initial approval Monday night to repealing the measure by a 76-42 vote after little debate. A more vigorous discussion was expected today.
Democrats agreed four years ago as part of the final budget a provision allowing counties to raise the land transfer tax from 0.2 percent to 0.6 percent of a home’s sale price. That tax would place another $800 on a $200,000 home.
More than 20 counties have held referenda on the higher transfer tax, but they’ve all been defeated. The real estate industry has opposed the tax.