Just received this from NYSAR. check the details.
The headline above applies to the New York State Assosiation of Realtors quote email I received 7 Oct 10
see the link; http://us.mg201.mail.yahoo.com/dc/launch?.partner=vz-acs&.gx=1&.rand=029kbp3a7usn1
It isn't called a national sales tax; it is called something else. It is 3.?%...I forgot the fraction. It only applies to people earning over a certain amount; I don't remember from our workshop whether it is earned income or profit off the house...my notes are at the office. Someone in our group made a statement that it didn't bother them because their clients don't have that kind of money but the intelligent ones in our group commented that if the administration keeps screwing the wealthy, everyone is going to have to live with the consequences.
Linda; Thanks for stopping by and for the comment. You are correct, if passed, it would 3.8%, then "O we just need an increase to 4.2%, that will take care of the shortfall", then after a few years, "we need to adjust the rate to 5% and so on.
Mr Webster, Thanks for the correction and for stopping by. I knew it was 3.8, but the quote from NYSAR was 4%, see the link if you want to read more. Regards, Ken
BTW, did you know that in New York we have an extra transfer tax on homes selling for over $1,000,000? Right now it's 1% in addition to the regular 1.4%
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