Monday, December 11, 2006
This land is your land, this land is my land
Next Tuesday, voters throughout Warwick will decide on an issue that has had the town's attention for many years: Community Preservation.In an election season with the landscape dotted with the usual political signs, it is the green and white ones with the big red check mark saying, "Community Preservation Vote Yes Nov. 7," as well as the bright red and white ones that simply read, "Vote No Real Estate Transfer Tax!" that have garnered the most discussion.If approved by the voters on Tuesday, this would establish a 0.75 percent transfer tax on real estate transactions within the town. There are exemptions. The first $100,000 of the selling price of a home would not be subject to the tax. The first $50,000 of the price of land would be exempt as well.A home that sells for $400,000 would be taxed on $300,000 with the exemption.
