May 1, 2008
The task force was appointed
in late March in response to the following motion approved by the Board of
Directors at the January C.A.R. meeting:
That the President form a task
force to explore alternatives using mechanisms such as Mello-Roos to deal
with the problems associated with private transfer taxes.
Mission Statement (Draft):
1. Review the final report of
the Private Transfer Tax Task Force which summarizes the problems
associated with the imposition of private transfer taxes (PTTs) on
homebuyers. Generally, PTTs require payment of a "fee" which is a
percentage of a home's sale price by every buyer who purchases the
home.
2. Determine what type of
restrictions should be placed on PTTs to regulate their imposition on
homebuyers.
3. Make recommendations as to
what, if any, legislation C.A.R. should sponsor with regard to regulating
PTTs.
Task Force
Members:
Heath Hilgenberg, Chair
Larry Fargher
Brian Holloway
Leslie Munger
Frank Nelson
Meetings of the Task
Force:
The task force's first meeting is scheduled for Tuesday, June 3, to discuss the task force and consider the draft mission statement. In addition, the task force will review the work of the first task force on PTTs - and, in particular, the problems associated with PTTs identified by that task force - whose ultimate recommendation that C.A.R. sponsor legislation to prohibit the imposition of private transfer taxes was adopted by the Board of Directors. (Such legislation was introduced in 2007; however, the Legislature is unwilling to outlaw PTTs.) The task force will also discuss potential statutory schemes that can be used to address the problems associated with PTTs and/or to limit the imposition of PTTs. Finally, the task force will discuss how to proceed in order to fulfill its mandate.
