There is much misinformation going around about the new Real Estate Tax Law that is set to go into effect on January 1, 2013. We have received several group emails from friends who are in a panic about the 3.8% tax law. Even many Realtors® are worried about how this new law will affect future home sales. Although no one welcomes a new tax, it is not true that there will be a 3.8% tax on every home sale.
This new tax is part of the Affordable Care Act that our government passed in 2010 . Even though it is a new tax, it will not affect every home sale that occurs in our country in the future.
The National Association of Realtors has put out a pamphlet that explains the new tax very well, using examples to show which sales it will affect. Here is a link to the NAR educational pamphlet.
For more information about Homes for Sale in the Lake Oconee Area, or about the new sales tax, call Suzie (706-347-1115) or Jim (706-453-6253) Through our Multiple Listing Service, we had the key to any home for sale.
RE/MAX Lake Oconee Agents Realty 706-454-7777