Real Estate, Alcohol and Tobacco will be seeing tax hikes. Some of us want to see a break for first-time homeowners, I am finding bipartisan support for that. Sadly, it will have to wait. An amendment by Senator Marshall to exempt first-time homebuyers failed. The realtors have found the money. The state is owed millions in uncollected capital gains taxes from people who sold and moved out of state. We need some reforms to do withholding at the settlement table for those not claiming the rollover. We should also take a look at all of the unaudited forms that have been filed and never paid over the past 6 years. It is money owed to us, but we would rather drive our kids out of state when they want to buy homes.
It seems irresponsible to impose a new tax when you are not even collecting what you could easily get from the old taxes.