The Real Deal New York

Health care and housing: a taxing issue for sellers

Legislation may not be as scary as some say

August 16, 2012 04:30PM
By Kenneth Harney

  • Print

Obama signs the Patient Protection and Affordable Care Act, in March 2010

From the August issue: When the Supreme Court upheld the health-care reform law on federal tax grounds, it restoked a housing issue that had been relatively quiet for the past year: The alleged 3.8 percent real estate tax on home sales beginning in 2013 that is buried away in the legislation.

Immediately following enactment of the health-care law, waves of e-mails hit the Internet with ominous messages aimed at homeowners. A sample: “Did you know that if you sell your house after 2012 you will pay a 3.8 percent sales tax on it? When did this happen? It’s in the health care bill. Just thought you should know.” [more]