Image courtesy of Alan Cleaver via Flickr
Welcome Back Readers! Thanks for stopping by again! There’s alot of emails that circulate during an election year, one of the most common ones this year relates to a real estate is that the federal health care legislation (affectionately called Obama-care) passed in March 2010 contains a 4.0% transfer tax on all real estate sold after 2012. You might be wondering if this is true or not. Well, in short the answer is no. There is no national transfer tax on all real estate.
But like all great myths, this one does have a small grain of truth to it. There is indeed a tax on certain real estate transactions specified in the bill, read on after the jump to find out more!
