ROBERRTSDALE, Ala. — A high ranking school system is important to selling property in Baldwin County, said Nick Wilmott. Wilmott, the president of the Baldwin County Association of Realtors. That is why the Association is urging passage of the “Penny Tax,” a three-year one-cent increase in the sales tax March 23.

The BCAR met Thursday, Feb. 18 at the Baldwin County Coliseum in Robertsdale.

“The outcome (of the vote) is crucial to Baldwin County,” Wilmott said. He added that families move to the county because of the school system, and the most common question he as a Realtor is asked is, “what are the schools like and what is healthcare like.”

He added that should the vote fail, some 400 jobs would be lost in the school system, perhaps leading to foreclosures.

“We don’t need more foreclosures,” said Wilmott.

“A quality school system causes growth in population, It causes a growth in business,”continued Wilmott.

Should the one-cent increase be voted down, Wilmott pained a gloomy picture for Baldwin County real estate, saying that people will move out of the county.

Wilmott urged the Realtors at the breakfast meeting to let their “customers, clients, friends and family” know of their support.

The meeting also got some last minutes tax tips from Jeff F. Allen a Certified Public Accountant with Allen and Allen, an accounting firm in Daphne.

Noting that many seem to visit their accountants only around tax time, Allen urged the group to form a relationship with a financial professional.

“Don’t think we are too busy to talk to you, make a relationship,” said Allen.

Allen discussed several tax credits that will make buying or selling a home a little easier.

First was the much talked-about “First Time Buyer” credit of $8,000. There are several qualifications, but the main thing to watch for is that neither husband or wife has owned a residence in the three years before the purchase. The credit “phases out” when the “Adjusted Gross Income” on the tax forms hits $225,000 for a married couple. There are “pay back” provisions if the house is sold within three years of purchase, so it’s best to consult a tax professional if someone is considering this deduction.

The second incentive from the IRS is a $6,500 credit for “long time” homeowners who have owned a home for a number of years and have purchased a new principal residence. Again, it’s best to consult a tax professional if this might apply to you.

The final item on Allen’s list was “mortgage cancellation.” Before a canceled mortgage or debt forgiveness was treated as income Now, after Jan. 1 2007 to Jan. 1 2013, debt discharged on a principal residence is not taxed, Allen said. There are considerations, and again, it’s best to get professional advice.