Regarding sales tax on real estate.
I have read different things about this sales tax issue on real estate transactions. Some say all will be taxed, others say different income levels will only be taxed the 3.8%. What this means to me is that we all have to get more information on this issue before it’s too late. If it is going to affect only upper income and homes over $400,000 then it is the perfect time to downsize now and close the transaction before 2013. If it affects all transactions then it is best to buy now whether it’s your first home, you are moving up to a larger home or if you are looking to buy your 2nd home, vacation home or your retirement home. Get it done in 2012 and don’t get stuck paying the additional tax.
Being charged sales tax when you sell your home!!
THIS WILL BLOW YOU AWAY!!!!!
The National Association of REALTORS is all over this and working to get it repealed before it takes effect.
But, I am very pleased we aren’t the only ones who know about this ploy to steal billions from unsuspecting homeowners.
How many REALTORS do you think will vote Democratic in 2012?
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. When did this happen?
It’s in the health care bill and goes into effect in 2013.
Why 2013? Could it be to come to light AFTER the 2012 elections?
So, this is “change you can believe in”?
Under the new health care bill, all real estate transactions will be subject to a 3.8% Sales Tax.
If you sell a $400,000 home, there will be a $15,200 tax.
This bill is set to screw the retiring generation who often downsize their homes.
Does this make your November and 2012 vote more important?
Oh, you weren’t aware this was in the Obamacare bill?
Guess what? You aren’t alone.
There are more than a few members of Congress that aren’t aware of it either.
I hope you forward this to every single person in your address book.
VOTERS NEED TO KNOW
Did you know there are still first time home buyer programs available?
Did you know that many counties have first time home buyer assistance programs? Yes it’s true. It might not be easy to get, but if you qualify it is wroth looking into. Check this out.
A program is available in Pinellas County that may make it easier and more affordable to buy a new home in 2012.
The interest rate for the Home Key 1st Mortgage is at 3.75 percent and is available to first-time homebuyers in Pinellas, Pasco and Polk counties. A similar program, the Home Key Plus 2nd Mortgage, helps with down payments and closing costs and is also available in all three aforementioned counties.
The programs are available to buyers who have never owned a home, have not owned a home in the last three years or are veterans. Certain area and income eligibility requirements apply. To qualify, buyers must have a minimum credit score of 620 and must take a homebuyer education class.
“There is a great variety of homes available and prices are lower than we’ve seen in a long time,” said Anthony M. Jones, executive director of the Housing Finance Authority, in a press release.
For more information, visit www.pinellascounty.org/community/hfa, or call (800) 806-5154 or (727) 464-8210.
I’m up and running!
After months of work on my new web site, it finally went live last week. My goal is to add content at least weekly. You will find good news, local events and of course information on Pinellas County Real Estate. So check back often and let me know the type of content you would like to see and I’ll work on that too. Thank you for stopping by.