South Baldwin County Realtors and elected leaders are worried that a state plan to collect taxes on real estate sold by non-Alabama residents could further dampen an already sluggish market.
In April, legislators passed a bill that changes how taxes are collected from out-of-state sellers of Alabama real estate. In an attempt to ensure those transactions are taxed properly, lawmakers placed the burden of payment on the buyers.
By doing so, state revenue officials say, Alabama stands to annually collect about $3.5 million that it has been missing out on.
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