Senate Passes Bill to Prohibit Developers from Charging Ripoff Fees on Future Transfers

ATLANTA (March 26, 2013) – The State Senate passed HB 160, carried by Sen. Jesse Stone (R-Waynesboro), by a vote of 53-1.  If HB 160 becomes law, it will eliminate the private transfer taxes that require a certain amount, typically one percent of the sale price, be paid every time property transfers. These private transfer taxes do not benefit anyone connected with the property and typically extends the cost and time required to close a real estate sale. Continue reading “Senate Passes Bill to Prohibit Developers from Charging Ripoff Fees on Future Transfers”