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NHAR Champions Defeat of Refinance Tax

June 25, 2009

Yesterday afternoon, the New Hampshire State Senate and House of Representatives narrowly supported a state budget that does not include a tax on mortgage refinancing.  This is a huge win for our association on behalf of all the state's property owners.

We were first made aware of the mortgage tax proposal late last month, at which point our Public Policy Committee promptly took a position of "oppose," though it was only a rumor until June 3.  It was on that day that our Government Affairs Director Bob Quinn sent an e-mail which included the alarming statement, “Based on my discussions this morning, this thing has legs."

From that moment going forward, NHAR staff and leadership took this on and did not let up.  For a partial list of what was done to fight the refinance tax during that three-week period, click here.

Aside from the New Hampshire Mortgage Bankers and Brokers Association, no other group voiced any real opposition to this tax.  We were pretty much alone on this one, facing what one respected daily newspaper called overwhelming odds in favor of its passage.

I’m very proud of this effort, and I know that it will serve us well into the future.  All told, it was a fantastic job all-around, with the perfect mix of participation by our leadership and members – all orchestrated by the efforts and work of our excellent staff.  To all of you, a heartfelt thank you.

Sincerely,
 

Paul Sargeant, REALTOR®
2009 President, NHAR

 

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