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

Dear _______________________:

      I understand that an ordinance is under consideration by City Council that will allow the city to levy a home excise tax when I buy or sell real estate.   I am writing today to thank you for taking action to end to the home excise tax in my community.   
      
      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.
      
      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 taking action to end the home tax.