Who’s impacted by LTT?
The LTT affects anyone who sells their home, not just newcomers. The upside is that a better education system will raise home values much more than 0.4%. Developers have warned that LTT will stifle growth and home values. A handful of NC counties have had a 1% LTT for years and they have experienced increased growth, increased property values, and more funds for schools. The state legislature recently voted to allow all counties to have a 0.4% LTT with voter approval.
