Real Estate Tax Rumor Outlasts Mayan Calendar
Posted by Bill Mann on
With the “End of the World” now comfortably behind us , you might think the coast would be clear for a while. But -- at least when it comes to Coastal Delaware real estate matters -- some would have you believe we are face-to-face with another extreme dire threat: the Internet buzz about a (gasp!) huge new federal sales tax on all real estate transactions.
This one was all over the web even before passage of the federal health care act. It has staying power, and comes in several forms. The one that circulates most often is an email message warning that a 3.8% Medicare surtax that is going to hit “average, middle-class investors” on January 1. Supposedly ALL real estate transactions are subject to the tax “no matter how low their income might be…”
If…
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