Rumor: The new federal health care bill requires an additional 4% transfer tax on homes sold.
Fact: The new federal health care bill has a 3.8% Medicare tax for some high-income households with net investment income.
Starting in 2013, this tax applies only home households with adjusted gross incomes of over $250,000 and would only be charged on home-sale proceeds that exceed the capital gains exclusion of $500,000. If filing individually, these figures change to incomes over $200,000 and home sale proceeds over $250,000.
Rumor: The energy bill that Congress is working on would require home sellers to obtain an energy audit or make energy retrofits before selling.
Fact: The bill as written at this point would require new construction to be energy-labeled, but it does not allow states to require new ratings when the homes are sold.
Congratulations on becoming the newest owner of a building in
Monroe's Historic Downtown, Faustino!
Regarding the number of single family homes that sold in Green County in June of 2010:
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved