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Learn the Facts
I have been hearing false rumors going around about a transfer tax on all real estate sales. The claim is that the Affordabel Care Act includes a 3.8% tax on all real estate sales. Not so.
Real Estate Scenarios and Examples
The act does include a 3.8% tax on some investment income, it will effect the majority of home sales, especially in the Odessa & Midland TX home sales. The tax applies only to people with adjusted gross income of $200,000 ($250,000 for a joint return). Also, as a homeowners, if you sell your principal residence, you will continue to receive the exclusion of $250,000 of gain on the sale of the home ($500,000 for married couples).
Learn the Facts from NAR about the 3.8% real estate “sales tax” in the health care bill.
If you want to know the truth about what is going on in the Odessa TX, Midland TX. and Greater West Texas real estate market – call me at 432-934-4439 - I am always here to help. Specializing in Odessa TX homes for sale and luxury home marketing.
Make It Your Own,
- Donna Edwards
Author Bio: Donna Edwards is a broker associate of DeRiso & Haynes Realty in Odessa Texas, a highly regarded boutique firm of Odessa Realtors – selling more homes annually than any other firm in Odessa! For more information on how we can best serve your real estate needs, give her a call at 432.934.4439 or by email at donna@OdessaMidlandHomes.com . Also, check out what fabulous clients have to say on her testimonials page!
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