Realty Times - About That Real Estate Sales Tax

Realty Times - About That Real Estate Sales Tax

At my regular Gilroy Rotary meeting yesterday, I sat next to Bill, an avid real estate investor. He reminded me about the "Real Estate Sales Tax." While this does affect Bill and his investment property sales, it is not an across-the-board sales tax on real estate. Realty Times did a good job of explaining this when the Health Care Bill first passed. And, contrary to Bill's information, this tax does not go into effect untio 2013. Bill thought it went into effect on January 1st of this year. It's worth another look to get all the details, especially if you, like Bill, think this is a "Real Estate Sales Tax."