What is This News About a New Real Estate 'Sales Tax'?
Posted by Mike Ciucci on
Many of you may have seen recent emails talking about a Sales Tax on real estate sales. Below is the article from the National Association of Realtors website which is a great resource for current information that provides an accurate summary of the new provisions.
No 4.0% “Sales Tax” on Home Sales in Recently Enacted Health Reform Bill
Contrary to reports and newspaper articles circulating widely on the Internet, there is not a 4.0% "sales tax" or "transfer tax" on the sale of a home included in the recently signed health care reform bill. The analysis underlying these reports is incorrect and fails to take into account the interplay of the bill's provisions with already existing real estate tax laws that remain unchanged.
What was included in the health…
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