FARGO, N.D. — The North Dakota Association of Realtors is urging a yes vote Nov. 4 on Measure 2, a constitutional amendment that would ban transfer taxes on real estate transactions.
North Dakota does not have transfer or mortgage taxes, but as the state works to lower property taxes, municipalities may look to implement them, Scott Breidenbach, a Fargo Realtor, said at a news conference Thursday.
If approved by voters, the amendment, which was placed on the ballot by the North Dakota Legislature, would prohibit the state and any political subdivision from imposing such a tax on the sale or transfer of property.
Minnesota and South Dakota are among 35 states plus the District of Columbia that do have transfer taxes, according to the Realtors group.
Realtor Dave Lanpher said this sort of tax would make it more difficult for potential home buyers to afford a home. He also pointed out that residents already pay property tax.
“Enough is enough when it comes to taxes,” Lanpher said.