The Issue: Point of Sale Tax is Unfair and Hurts Our Economy
In a tough economy, the last thing we need are taxes that eliminate jobs and prevent new businesses from opening in South Carolina.
A recent South Carolina law---known as point of sale---allows local governments to dramatically increase property taxes on homes, land and businesses when they are sold. For example, if you buy a home, you could pay higher property taxes than an identical home in your neighborhood. This flawed law is unfair, and is hurting our economy.
Because of the unfair point of sale tax, some companies have said they will not relocate or open new businesses in South Carolina. Our state has lost hundreds of millions in economic investment and that means businesses are taking their jobs to other states.
South Carolinians feel strongly about attracting new businesses and jobs to the state, and believe the point of sale law is hurting our economy.
To make matters worse, city and county governments can spend the money they collect from point of sale any way they want without local governments. And while most local governments have not cut back on spending---like the rest of us---the point of sale tax is hurting our economy, the housing market, and working families.
There’s a fix for this law in a bill before the Legislature. So it’s time to tell the politicians in Columbia to fix this law and get our economy back on track. Take action today!
