President's Perspective

Such a smorgasbord of opportunities!

Doug McCloud
2005 President

Wow - do we have a lot going on in the next couple months. Be sure to check out pages 28-29 where we have listed detail on the many events coming up such as the CORPAC Auction, blood drive, feng shui seminars, roundtables on renovation financing and general lending, the annual OAR management update, our next real estate career night/job fair, the MAREA downtown bus tour, and the BIA new home show and Parade of Homes (including REALTOR® morning.)

June is National Homeownership Month - a time Boards across the country focus on reaching out to residents to help educate them on acquiring homeownership. Our Affordable Housing Committee has several events planned. Click here for more info.

REALTOR® Care Day - This is a new program - a work day where members spend time improving the condition of a needy property in our community. This year, they have selected Mwanza Place in South Linden. Click here for details.

Ohio budget proposal adverse to real estate
Despite our efforts, the Ohio House passed its version of the Fiscal Year 2006-2007 budget containing two tax measures detrimental to the real estate industry. Sub. House Bill 66 includes language to create a new, statewide transfer tax in addition to calling for the immediate elimination of the 10 percent rollback on commercial property taxes.

The 54-45 vote in early April, did include a major victory for REALTORS®, with an amendment adopted that prohibits the double taxation of real estate commissions in the application of the new commercial activity tax (CAT).

The Ohio Senate has begun conducting hearings on the House-passed version of the budget bill. A vote is expected by late May/early June, with a Conference Committee reviewing differences between the House and Senate budget bills likely in June. The budget must be signed by Gov. Bob Taft by June 30.

We need you to contact your Ohio Senator and voice your opposition to the provisions calling for the creation of a statewide transfer tax and elimination of the 10 percent rollback on commercial property taxes and support of the House-passed CAT amendments. The process is easy - just visit www.ProtectingtheAmericanDream.com.