About That Real Estate Sales Tax

If you haven't received an email about the alleged real estate sales tax, you will. Probably, many readers have already received more than one. They go something like this: "Did you know that the new health care bill will make all real estate transactions subject to a 3.8% sales tax? Just think, if you sell your home for $400,000, there will be a $15,200 tax!"

It isn't true. (And if you don't believe me, check with Snopes.com or FactCheck.org. Everyone believes them.) But it's easy to understand how some have been misled. The National Association of Realtors® (NAR) has been putting out "Myth Buster" commentaries on this topic since the spring of this year (2010), but the rumors persist.

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