Key facts about Proposition 100
By Cronkite News Service
Here are key facts about Proposition 100:
_ Provisions: Would bar state and local governments in Arizona from imposing a tax on the sale or transfer of homes, farms and other real property. There are no such taxes in Arizona at present.
_ Arguments For: Put forward by organizations representing real estate agents. They say the measure would protect citizens from double taxation because owners already pay property taxes. They also say such a tax would make it more difficult for people to afford property.
_ Arguments Against: Opponents say the measure would unnecessarily prevent governments from considering all possible options as they try to provide for Arizona’s rapid growth.
_ Who Has the Tax: According to the Washington, D.C.-based Federation of Tax Administrators, 35 states and the District of Columbia had such taxes in 2004. Most of the rates were 1 percent or less.