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

Dear _______________________:

      I understand that an ordinance in 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 urging you to put an end to the home excise tax in my community.   I believe real estate transactions in New Mexico are already heavily taxed.  

      I oppose this tax because it unfairly targets a family’s most valuable asset – their home.  Most 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.  Santa Fe elected officials 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.
      
      Please stop the home excise tax now!