Have you heard rumors over the past year or so about the 3.8% real estate tax approved through health care reform? Yea… me too. I’ve seen panicked emails stating that the government has imposed a 3.8% sales tax on ALL real estate transactions. The emails say that if you sell your house for $500,000, you will have to pay $19,000 in taxes to the government ($500k x 3.8% = $19k). I’ve seen plenty of emails without all of the facts. They have been left wing and right wing viewpoints and sometimes no wing! Believe me… I have seen and heard them all. I have even had clients call and email me questioning and panicking over something they do not fully understand. Thanks for the calls guys… I hope this blog post might help us all out a bit!
So without further adieu, find the facts here at The Truth About the 3.8% Real Estate Tax! It’s not as scary as most are painting it, but then again, that will be subject to each persons interpretation.
Kevin Rhodes with Keller Williams Realty ~ Dallas/Fort Worth Region
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