Real Estate Tax

[Bummer Knees]

I received the following from my Aunt Jean today, I thought it was interesting.
...................................
Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That's $3,800 on a $100,000 home, etc.
>
> Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax. The bulk of these new taxes don't kick in until 2013. If you sell your $400,000 home, there will be a $15,200 tax. This bill will screw lots of people, including retired folks who may decide to downsize.
>
> Oh, you weren't aware this was in the healthcare bill? Guess what, you aren't alone. There are more than a few members of Congress that aren't aware of it either.


http://www.gop.gov/blog/10/04/08/obamaca...taxes-home

[admin]

I was certainly aware of it. And thrilled about it.

[bronco54501]

Why not, just another way to get our money... With the economy the way it is people cant even sell thier homes for what they owe, and now throw that tax on it. I do think it is a good way to come up with the funds, but the people its going to hurt is the devolpers who buys up land and builds to sell..

[jayne]

not to worry I have no plans to sell my farm....we are gonna need it if we plan to eat in the coming years....you all better start enriching your soil....I have a mini orchard on my farm....and a good garden place....I also have chickens and a pond with fish....I hate fish but I guess if I get hungry enough.....We got rid of the cattle I just couldnt take care of them anymore how ever veggies are dear in cost here...so trades are likely....

[Bummer Knees]

The real estate market here is flat, a buyers market. Add the real estate tax to the mix and I think we all know what it will do to the market.

[1171]

your aunt Jean is a bit behind the times....

this is an old INTERNET MYTH...
part of bogus emails that are being sent to unsuspecting citizens ---probably by Jayne...


there is a capital gains/investment income increase for those with ultra high incomes but no sales tax.
"Married couples are not taxed on the first $500,000 of profit from home sales. "
http://www.politifact.com/truth-o-meter/...alth-care/

An old scare tactic by the anti-Obama crowd
http://www.gop.gov/blog/10/04/08/obamaca...taxes-home

[jayne]

poor poor 1171....

[bronco54501]

I wonder if this free retirement house will be taxed....