Tax Reform

Please take the time to fill out this survey from Kentucky REALTORS®. The purpose of this survey is to engage our membership in guiding our legislative priorities, specifically tax reform. The survey should take about 5-10 minutes. Your personal information will be kept strictly confidential. Deadline to take the survey is Wednesday April 12. 
Governor Bevin hopes to begin unveiling his plan in the next couple months to gain support from stakeholders prior to the special session being called. Current indications are this will take place sometime in September. In order to ensure we understand what tax related issues are important to you and your business while also having an opportunity to get in front of the key decision-makers in both the Executive Branch and Legislature, we would appreciate it if you would answer the following questions:

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* 1. Contact Info

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* 2. Do you, your business and/or clients currently enjoy any special tax advantage including but not limited to a deduction, exemption, or credit under KY’s tax code? (Yes or No)

  Yes No
Home mortgage interest deduction
Property tax deduction
Federal Home buyer tax credit
Estate tax 
Gain on the sale of personal residence
Federal low income housing tax credit
Historic preservation tax credit
Energy efficient products tax credits
Homestead exemption
1031 Like-kind exchanges
Economic development tax credits

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* 3. Are there any specific changes that can be made to the current tax code which will allow you, your business, and/or clients to make additional investments, expand your business, sell more property, etc?

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* 4. Which taxes under KY’s tax code have the greatest impact on your business (3 to 5)? Please rank them in the order of importance.

  Least Important Most Important
Personal income tax
Corporate income tax
Property taxes
Sales taxes
Capital Gains
Occupational taxes

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* 5. Would you support the following additional revenue options if considered by the Kentucky General Assembly?

  Yes No
Increase the state sales tax by 1% to .07 cents on dollar
Increase personal income tax
Increase corporate income tax
Increase property tax
Expand sales tax to services
Sunset all sales tax exemptions
Increase gas tax up to .05 cents per gallon to fund infrastructure projects
Sunset all economic development incentives
Expand sales tax on all services in exchange for eliminating the income tax
Increase sales tax by 1% to .07 cents on dollar, in exchange for eliminating or lowering income tax
Limiting mortgage interest deduction to just primary residence.
There should be no tax increases

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* 6. What are your top 5 priorities for comprehensive tax reform: (can choose up to 5)

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* 7. Do you support allowing cities or counties to impose by popular vote, a local option sales tax in addition to the state sales tax, with the proceeds going toward a specific local project(s) with a provision they would remove the tax once the project was paid?

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* 8. How can Kentucky REALTORS® be of more value to you and your business?

Thank you for your time in answering this survey. We will use your data and info to guide Kentucky REALTORS®’s efforts.

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