There is an Obamacare real estate tax, and it will hit some home sellers hard when they sell. It hasn’t been talked about in the media much, and only a few of us discussed it when the legislation was first being discussed. This news report from Channel 9 in New Jersey answers the question about the new Obamacare real estate tax few know about.
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Obamacare Real Estate Tax
It is very likely that this tax will sneak in under the radar for the vast majority of homeowners who will be effected. I have a feeling that after many people find themselves paying another massive 3.8% tax on their real estate sale, they will start to get upset. Of course, by then it will be too late, since “it is the law” as many like to say.
Obama Real Estate Tax Will Not Be Popular
How the Obama Real Estate Tax will effect real estate sales is unknown, but my feeling is that it will not effect sales, but it certainly will effect the bank accounts of the sellers. I think there are going to be a lot of angry people when they have to write a check for an additional tax (on top of the real estate taxes and capital gains taxes they already will pay). As Dennis Miller likes to say after a rant, “Of course, I could be wrong” about the Obamacare Real Estate Tax.
Last Updated on November 15, 2013 by Chuck Marunde