A 3.8 Percent “Sales Tax” on Your Home?

Apparently yet another email is circulating that says you’ll have to pay a 3.8% sales tax on the sale of your home after 2012.  That would result in some hefty taxes!  There is some truth to it however.  But not to worry…it will only affect high income earners, and even then it’s not for the entire sales price of the home.  One of the best explanations I’ve found for it is here:

A 3.8 Percent “Sales Tax” on Your Home?.

If you still have questions after reading the article, please let me know!

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About Bob Gilbert, GRI

Realtor with Edina Realty, Prior Lake, MN
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