The Real Deal Miami

Health care bill includes real estate sales tax

July 30, 2010 12:00PM

There have been rumors of a 3.8 percent sales tax on all real estate
transactions in Florida having been inserted by Democrats at the last
minute in the health care overhaul bill. A portion of those rumors are
true. Inside the health care legislation is, indeed, a federal real
estate tax of charge 3.8 percent, though it will apply only to sellers
making more than $200,000 per year, or $250,000 per year for couples. A
recent Washington Post article noted that a fictitious couple with a
$300,000 income, making $600,000 in profits on the sale of their home
could be charged around $1,900 in new taxes. [Sun
Sentinel]