Someone told me that in President Obama’s HealthCare bill there is a new real estate tax that will be coming into effect. Could this be true? Yes!If you are surprised by this inclusion in the HC bill, you are not alone. Most people are not aware that this new tax is apart of this bill, which is over 2,000 pages in length! It was written by the Apollo Alliance, which also wrote the Stimulus Bill.
It is a sales tax that will be coming into effect in 2013. So, many people were so surprised that his health care bill could have such a tax in it that the National Association of Realtors has produced a Question and Answer publication on this topic.
There is not enough space in our newsletter to go into detail here. Please go to our website at www.reelestate.com for the link to NAR’s publication for further information. Check out: http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-tax/
