A half-truth that has been flying around the Internet for a while now and probably will continue is all real estate transactions will be taxed at 3.8% in 2013.
If you knew a 3.8% real estate tax was on the way and you were thinking about selling your Spring Texas house, you might put your house on the market in 2012 to avoid the tax. But wait … don’t rush to list your house just to avoid a real estate tax until you learn the facts.
Here’s the FACTS:
Real world example:
For more examples of the 3.8% Medicare tax download a brochure from the National Association of Realtors. If you have further questions about the tax implications of selling your Spring Texas home, please consult your tax accountant.
I am an Escrow Officer for Texas American Title-The Woodlands. I have had the pleasure of partnering with Jill... read moreI am an Escrow Officer for Texas American Title-The Woodlands. I have had the pleasure of partnering with Jill Wente on several real estate transactions. Her attention to detail and knowledge of the real estate industry are top notch! She is honest, straight forward, organized, and completely in tune with each of her transactions. She asks questions and truly listens to the information given to her and applies it in her future transactions. She is wonderful to work with and proves in each transaction that her top priority is that her clients are given the best customer service and are comfortable with each step of the process. She works proactively rather than reactively, and prepares herself for any questions her clients may have during the process, and does so before the question arises. Her clients are lucky to have her on their side! I look forward to any and all opportunities I have to partner with Jill in the future. read less