Real estate agents say Hilton Head tax hike hurts

HILTON HEAD ISLAND, S.C. (AP) — Real estate agents on Hilton Head Island say a proposed town tax increase of almost 7 percent will hurt the embattled housing industry.

The Island Packet of Hilton Head reports a home valued at $350,000 would be taxed an additional $11 a year under the plan. Supporters of the increase say more money is needed to improve the island’s tourist and recreational areas.

Mayor Drew Laughlin says comments from voters during last year’s town elections show people want more invested in the island.

But Karen Ryan with the island Association of Realtors says people and businesses have had to adjust their budgets and the town needs to do the same. She warns the tax increase won’t help real estate agents sell homes.

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Information from: The Island Packet, http://www.islandpacket.com