Real Estate Lobbyists Spending Big To Beat Land Transfer Tax

The North Carolina Association of Realtors has spent about a half-million dollars in an effort to defeat a proposed tax on land transfers.

And while that money has been spent to convince voters outside the Legislative Building, the investment appears to be working inside the building as well. Senators balked last week at giving counties the right to issue additional taxes on land transactions.

The 42,000-member association has spearheaded a multimedia campaign against the tax. The association of realtors says the tax would discourage potential first-time home buyers.

The association spent more than 13-thousand dollars last week on local newspaper advertisements praising a dozen House members who spoke out against the tax.

Other lawmakers are worried they will be the target of campaign ads next year if they support the land transfer tax.

The association of realtors is used to exercising its cash resources. The group's political action committee gave more than 600-thousand dollars during the 2006 elections, the most money by any political action committee.