News of Riverton, Lander and Fremont County, Wyoming, from the Ranger's award winning journalists.
Home sales tax under Obamacare doesn't apply to most people
Nov 23, 2012 - Christopher Shannen, Riverton
The claim made by Carl and Annette Baxter in their letter to the editor about "Obamacare" is one of the untruths often cited when people want to undercut the new health care law.
The claim that you will be subject to an extra 3.8 percent "sales tax" when you sell your house only applies to the very richest people who will make a profit of at least $200,000 on the sale. It's $250,000 for a married couple.
The example the Baxters cited in their letter just isn't true. The first $200,000 profit on a home sale are exempt from the higher tax so the sale of a $150,000 house as they say in their letter would not be subject to any of the new tax at all.
There were chain letters and chain e-mails sent all over the country misstating this information before the election. But it's not hard to find the real information if you try. The Internal Revenue Service website states the truth accurately about this. There is a very good organization called FactCheck.org that spells it all out. This organization took no sides in the presidential election. The National Association of Realtors also has the information.
I am not familiar with Kent Sidney's situation where he got a refund on his health insurance under Obamacare, but I do know that this sales tax on $150,000 houses is not true.