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A question for the Realtors!

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Mike_Presta View Drop Down
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    Posted: Aug 28 2011 at 10:54pm
There is a rumor going around.  Perhaps one of the Realtors that posts here can clear it up for us with the facts:
Is it true that if you sell your house after 2012 you will pay a 3.8% sales tax on it? 
Supposedly, this is a provision of the Healthcare Act, and it does not take effect until 2013 so that it will not become widely known until after the 2012 presidential election.
Is this true???
“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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Bocephus View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bocephus Quote  Post ReplyReply Direct Link To This Post Posted: Aug 29 2011 at 6:58am
Originally posted by Mike_Presta Mike_Presta wrote:

There is a rumor going around.  Perhaps one of the Realtors that posts here can clear it up for us with the facts:
Is it true that if you sell your house after 2012 you will pay a 3.8% sales tax on it? 
Supposedly, this is a provision of the Healthcare Act, and it does not take effect until 2013 so that it will not become widely known until after the 2012 presidential election.
Is this true???
 
More goodness coming from obamacare wasn't it nancy pelosi that said that they have to pass the healthcare bill se we can see whats in it? What a bunch of fruit cakes and very slick to make it take effect till after 2012,and oh yea if you belong to a union you will probaby be able to opt.out of this new tax.Wink I hope this isn't true and if it is true that people remember who cramed obama care down our throats when voting in 2012.
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middletownscouter View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote middletownscouter Quote  Post ReplyReply Direct Link To This Post Posted: Aug 29 2011 at 8:37am
And Snopes delivers the truth: http://www.snopes.com/politics/taxes/realestate.asp

It's 3.8% tax on all capital gains (real estate or otherwise) over $250k per individual or $500k per couple. For most folks who don't deal with capital gains on their taxes, it would probably only relate to selling your home.

But since you'd have to sell your home for a profit of MORE than $250k/$500k (individual/couple), it will probably never apply to anyone living in our fair city...at least not for a long time.
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Marlayne Skeens View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Marlayne Skeens Quote  Post ReplyReply Direct Link To This Post Posted: Oct 18 2011 at 9:27pm
Boy, Have I been away from MiddletownUSA that long? Mike I'm sorry that I didn't respond sooner ~ The Snopes.com has the scoop on the Healthcare Program ~ This is a Program that should never be in a bill like this !!!!!
* Most will never have to pay !!!!!!
I offer Professional, Ethical Service and a Smile,
while Following The Golden Rule ~ Thank You :-)
*For ALL Your Real Estate Needs Call Marlayne with Real Living Realty Services @ 513-465-6747
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