In 2010 Congress passed Obama's Health Care Bill that has in it a Real Estate Tax of 3.8 % that is effective on 1/1/13 that will affect some Property Sales depending on the sellers income bracket.
This tax may affect many types of Real Estate Sales TAX Scenarios in 2013 such as:
* Sale of A Principle Residence (Capitol Gain)
* Sale of a Second (Vacation) Home (Non-Rental)
* Sale of an Inherited Investment Property (Residential or Commercial)
This new tax is sometimes referred to as 'Medicare Tax' as proceeds will be used to extend the life of the Medicare Trust Fund predicted to run dry.
The National Association of REALTORS has compiled a list of Frequently Asked Questions FAQ's on their website for your reference.
Bottom line is that for some..... waiting to sell their home will affect their bottom line next year.
If you are thinking of Waiting till next year to sell you Northwest Indiana property-you may want to think again->
Talk To Tucker Today to get your home on the market this year!
Thanks for stopping by and reading our Blog about Life in NW Indiana, The Housing Market, Communities, Local Sports, Events, attractions & more.
Sincerely,
Jeff & Grace Safrin, Broker / Owners
F.C.Tucker 1st Team Real Estate
13 Lincolnway Suite # 203
Valparaiso, IN 46383
Office # 219-309-9930
serving Lake, Porter, La Porte, Jasper, Newton & Starke Counties in NW Indiana
Independently Owned & Operated
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