New Taxes Sneaked into the Healthcare bill.
This is a sneaky tactic to get more real estate taxes from Home Sellers. 3.8 percent to be exact, goes into effect 2013 if passed.
This will effect you and me, the older generation, ready for retirement, usually wanting to downsize. So now think of 3800.00 per on hundred thousand sold, being paid out in taxes. With this sluggish economy as it is, you will most dfinitely use up your equity for taxes.
Why would this be in a healthcare bill? Sneaky, but the real estate commission has caught it and is fighting to get this overturned.
Don't know about you, but I am ready to retire and don't want to give up the equity in my home to any one. There is no profit expected.
So watch, read and lsiten carefully to what is being introduced and how it is being so.
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