VOTE "YES" on Amendment 3 to STOP Transfer Taxes!
Commercial Brokers have the most to lose if Amendment 3 does not pass! Transfer Taxes are an additional 1% (at a minimum) state/local tax on top of any real estate sale! There are only (13) states in the US which do NOT have a Transfer Tax. Missouri is currently one of the few states that do not have a Transfer Tax, but it is inevitable.
The Missouri Assoc of REALTORS (MAR) and National Assoc of REALTORS (NAR) have a combined investment of $500,000 toward changing the Missouri Constitution so that our state can NEVER impose a Transfer Tax on any real estate transactions.
Transfer Tax on some recent commercial property transactions could equal 1% or higher on a $1 Million sale or $10,000 per every $1 Million. Some large metropolitan areas actually impose transfer taxes closer to 4%! or $40,000 per every $1 Million.
This is a scary number when imposed on any real estate transaction. For more details on Amendment 3, check out the attached marketing and information piece.