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Charlotte Payroll Tax?


monsoon

Charlotte Payroll Tax?  

24 members have voted

  1. 1. Would a 1% Payroll Tax be good for Charlotte Development?

    • No - It would drive business out of the city.
      18
    • Yes - Charlotte needs the tax revenue for new projects
      6


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Out of all of them, I'm the least for the payroll tax, but I'm still more for the payroll tax than solely relying on sales and property taxes.

I'm most for the impact fees and transfer taxes. We have heard all of the warnings about over development and over supply, so if they slow down development a little bit (which they won't) it wouldn't be a bad thing. But also, people don't really notice a few hundred dollars when they are buying a house. I mean, with all of the surveyors, warranties, realtor fees, deed registration fees, etc., a few hundred dollars isn't much of a big deal.

Again, I'm for all of these, if they are primarily to change the tax structure, and not add much additional taxes.

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^The bottom line on that is the city is going to have relatively little influence on it and making independence a toll road is going to have 0 impact on the city's budget. And on top of that the feds won't approve it as it isn't an interstate highway.

I think the city needs to get a grip on spending, stop playing shell games with the budget to hide stuff from the public, and look at raising the property tax if it wants to address its budget problems. I do think however they might have a good shot at getting the real estate and impact fee taxes approved.

Charlotte's property tax is fairly low for a city it's size so it's probably time they considered raising it.

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But no matter who funds it, the city is in desparate need for roadway capacity. It comes up constantly as a political issue. The main cause is limited state funding for state roads, due to an unfair funding formula. Providing local revenue for roads in the city allows the city to meet one of its core functions without waiting for the state to fix its issues. It won't have zero impact on the city budget. Lack of direct causation does not mean no causation.

If Raleigh can do it for their unending list of unfunded state roadway projects, why not Charlotte?

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i am having trouble understanding how we could toll a currently "free" road without impacting literally hundreds of retailers and businesses between downtown charlotte and matthews/485. Surely they would all have something to say about people not being able to access their business without paying a new fee. Add in the blight that will occur when a mass exodus occurs from 74 and you have a really great problem to deal with. Personally, bulldozing everything along the whole strip and making it a true interstate would be fine by me. The reality is that most toll roads are built that way from conception, not retrofitted to become a toll.

A toll would also move drivers who wish to avoid paying over to Monroe Rd and wreck havoc there.

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  • 2 weeks later...

I sounds as if the city has abandoned most of these approaches except for the real estate transfer tax of 1%. This means that when you sell your house (or maybe the buyer pays) 1% of the sales amount is owed to the city as a tax. This should generate considerable income for the city.

In other words you flip your condo for $450,000, you now owe $4,500 to the city. It does seem to be a rather unfair hit to property investors and homeowners.

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The county may already be so far built-out, that raising impact fees won't help in the long term. So making everyone pay via a transfer tax could be justifiable.

I'm not so sure about making it percentage tax on property value, though. Does one family buying a half million dollar home really impact city/county services as much as 3 families buying starter homes? It should be capped around $2000, I think.

In addition, most buyers will lump this tax into the purchase and finance it, like all the other miscellaneous closing fees. The true cost is higher than it appears.

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