Mayor Coss and City Councilors
P.O. Box 909
Santa FE, NM  87504-0909

Dear _______________________:

      I understand that a local ordinance is under consideration that will allow the City of Santa Fe to levy a home excise tax when I buy or sell real estate.   I am writing today to thank you for rejecting this proposal and putting an end to the home excise tax in my community.   I am proud of your opposition to the home tax as I believe real estate transactions in Santa Fe are already heavily taxed.  

      I oppose this tax because it unfairly targets a family’s most valuable asset – their home.  Roughly 80% of all Americans have more equity in their home than in all other investments.  Taxing the value of a home at the time of purchase hurts that investment and discourages home ownership.  I appreciate that as a Santa Fe elected official you value the need to protect home owners’ rights and encourage new home ownership in Santa Fe.
      
      Increasing taxes on our homes makes home ownership less accessible as these taxes will be passed on to homebuyers through higher priced homes.  This can have a detrimental effect on first time homebuyers, senior citizens, working families and low income workers.
      
      I applaud you for rejecting the ordinance and putting an end to the home tax.