The New Health Care Bill (often called Obama Care) will bring a 3.8% Real Estate Tax

Real Estate Agent with Keller Williams Realty

First let me start off by saying: "The 3.8% Real Estate Tax in the Health Care Bill" - See the connection? (Real Estate / Health Care) I'm being sarcastic but I think you get my point.....

This Tax is just one of many Earmarks that was stuck into the new Health Care Bill. I think we can agree that Health Care is a major concern amongst Americans but that is an entirely different topic.

There are many emails going around stating if you sell your home after 2012 you will pay a 3.8% sales tax. That's $3,800 per $100,000. That would not be good for Sellers orn Realtors trying to sell homes. As a Realtor in the Charlotte, NC market I was pretty upset to hear that. Talk about further damaging a housing market that is just starting to show signs of stabilizing. However, I learned a long time ago whenever something is political you better do your homework.

Here are the facts about the 3.8% Real Estate Tax in the Health Care Bill...

According to

Does the new health care law impose a 3.8 percent tax on profits from selling your home?

A: The answer is YES, but it is limited. The first $250,000 in profit from the sale of a personal residence won't be taxed, or the first $500,000 in the case of a married couple. The tax falls on relatively few - those with high incomes from other sources.

With all that being said, this should not be in a Health Care Bill. Think of how many other things must be stuck in the thousands of pages of that bill. (Taxes and Pet Projects)



Craig R. LePage Realty Group Inc.
Charlotte's Luxury Home Specialist's - Serving the entire Charlotte area including Lake Norman
Ph: 704-618-2412 begin_of_the_skype_highlighting             

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Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Well fortunately it's been ruled Unconstitutional by a Federal I'm not too worried if it's in there or not.

Feb 09, 2011 12:29 PM #1
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LePage Johnson

Charlotte Lake Norman Homes
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