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| Senate Finance Committee to Meet on Repeal Legislation The “Ax the Tax” coalition kicked off their service tax repeal efforts with a news conference last week on the state Capitol steps. Members of the REALTOR® community joined with various other business groups in voicing their opposition to the 6% tax on services. The “Ax the Tax” coalition is committed to working with the Legislature to repeal the sales tax on services before it goes into effect. However, if the legislature fails to act on repealing the tax, the coalition is prepared and has already begun to circulate repeal petitions, taking the issue directly to the voters should a statewide ballot initiative be necessary. To join in the fight against the service tax, petitions are available for distribution either online, at www.axthetax.com or at the MAR offices at (800) 454-7842. On the same day the coalition held their press conference, the Senate passed legislation (Senate Bill 845) delaying the sales tax effective date from December 1st until December 20th. The passage of Senate Bill 845 signifies that lawmakers in Lansing may be willing to look at alternatives to the service tax. The MAR hopes that additional cuts and reforms will be taken up before any talks of alternative taxes are brought forth. Senate Bill 845 is tie-barred with Senate Bill 838, legislation to repeal the service tax. The Senate Finance Committee is holding a hearing on Senate Bill 838 today. Please watch your inboxes for further updates on the repeal efforts.
Same-Store Sales to Jump 2.5 Percent this Holiday Season Economic barometers indicate U.S. retail chains will see a 2.5 percent increase in same-store sales this November and December compared to the same period last year, says Michael P. Niemira, ICSC’s chief economist and director of research. He said retailers will put coupons, price cuts and other promotions to maximum use in driving traffic during the season. U.S. consumers’ income has strengthened and consumer confidence is more neutral than negative. But the continuing weakness in the housing and mortgage markets has reduced the consumer’s willingness and ability to spend, he says. Niemira also expects gift cards to extend the holiday shopping season into 2008, accounting for $15 to $20 billion in sales this year and with 30 to 40 percent of all redemptions occurring the week after Christmas and into January. An early Hanukkah is also likely to lift sales earlier in the season, he says, while Christmas falling on a Tuesday this year may give an even larger lift to sales in the weekend before Christmas, he says. ICSC also expects general merchandise, apparel, furniture and electronics and other stores, including hobby, book and sporting goods will increase by 4.3 percent for November and December combined. “No matter how you look at the upcoming holiday season, the story line is the same,” Niemira said. “Sales will be mixed and retailers will be offering promotions to drive traffic and sales this year.” Give Your Leadership a Jumpstart in the Right Direction Register them for the Leadership Event of the Year Registration has officially opened for Achieve 2008, the event your incoming leaders should attend. You can register them now at MAR’s Web site for a special early rate of only $175. The event will take place at the Amway Grand Plaza January 17 – 18 in downtown Grand Rapids. Remember to also book any hotel rooms by calling the Amway at 800.253.3590 and ask for the MAR rate. Visit the Achieve section of the MAR Web site for a schedule of events, information on speakers and much more. REALTORS® Serve Consumers with Designations, Certifications Today’s real estate industry is competitive and dynamic. Successful real estate professionals are adapting to demographic trends, embracing technology, and staying up-to-date on recent market developments. To help REALTORS® succeed in this environment, the National Association of REALTORS® and its nine institutes, societies and councils offer 21 officially endorsed designations and certifications to their members. In November, REALTOR® Designation Awareness Month highlights these programs. According to NAR’s most recent housing forecast, more than 5 million homes will be sold this year. Each of those homes will be purchased by buyers with their own unique desires and interests. Education and experience, like that indicated by professional designations and certifications, help REALTORS® meet their clients’ distinctive needs. The NAR guide briefs incoming leaders (presidents, officers, directors, and chairpersons) on their responsibilities and on available NAR resources.
MAR Calendar of Events
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Michigan 48901-7925 Copyright © 2005 Michigan Association of REALTORS® |
