In yesterday's blog, we talked about the new Federal 3.8% Medicare tax on the capitol gains you make when you sell your home in Prattville, Montgomery, and the River Region, AL, and we used an example to see how the tax is calculated. Then we asked what happens if the amount of capitol gains (profit) you make when you sell your home is over the $250,000 limit ($500,000 for married couples)? That's where another rule, the income limit, applies. The law says … (0 comments)
There's a nasty rumor going around out there. Recently someone started a rumor that soon every home owner will have to pay a real estate tax when they sell a home in Prattville, Montgomery, or the River Region, AL. They claim that this real estate tax was hidden within the Federal health care bill. They even called it a "sales tax." But it's not true. At least, not the way the rumor told it. While it is true that there is a … (2 comments)
Normally I post helpful information about buying homes for sale in Prattville and Montgomery, AL and the rest of the River Region. But today I want to post something a little different that is very important for anyone living in Prattville or Montgomery (or, in fact, anywhere in Alabama) that might help you if you are having trouble making your mortgage payments. The Federal government previously announced this year that it will be making approximately $2 billion (yes, that's two BILLION dollars) available to homeowners … (3 comments)
Do I Have to Pay a Real Estate Tax On My New Home In Prattville Alabama? Part 2
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