The Oklahoma Association of REALTORS® released the following statement and video today in regards to the detrimental issues surrounding a proposed change to capital gains tax policy:
Here is the link to the video by OAR member Brad Worster, CPM, CCIM – https://youtu.be/dbpb34oJyLw
The Oklahoma Association of REALTORS® (OAR) stands firmly in opposition to any attempt by lawmakers to end the capital gains tax deduction. Long-term investment and stability for our communities are key to Oklahoma’s economic growth and prosperity. Removing those exemptions will drive individuals and businesses from our state and hurt Oklahoma’s economy.
Additionally, capital gains taxes can vary dramatically year to year. It is not and will never be a stable funding source for our state.
Elimination of the capital gains tax is not in the best interest of the hard-working Oklahomans. We ask lawmakers to consider the individuals and businesses that are helping to sustain and grow their communities before attempting an untenable fix.
– Oklahoma Association of REALTORS® Chief Executive Officer Jessica M. Hickok, GRI, RCE, CAE