© Billings Gazette 2009

State and local governments would be forbidden from imposing a tax on real estate sales and transfers under a proposed 2010 constitutional initiative ballot measure submitted Tuesday by the Montana Association of Realtors. The group turned in the proposal to Secretary of State Linda McCulloch’s office, which kicks off a state review of the proposal.

“Ranchers and farmers, homeowners, retirees and small business already pay property taxes,” said Dennis Iverson, a former legislator and immediate past president of Montana Association of Realtors.

“Real estate transfer taxes are nothing more than double taxation of property. A real estate or realty transfer tax is usually imposed at the time of closing in the sale or transfer of property, along with other fees and charges. Read more.