[Homestead] Missouri taxation
lurine at com-pair.net
Mon Oct 18 19:16:00 EDT 2010
D*mn, the link I put in seems to have disappeared. Here's a link with the
various states: http://www.ncsl.org/default.aspx?tabid=12661
----- Original Message -----
From: "Lynda" <lurine at com-pair.net>
> In most states you pay a "transfer" tax when you sell your home. It
> actuqally is a sales tax. There are lots of exceptions to this. In some
> states it is waived if you are a first time buyer. In some you only pay
> on the profit the seller makes on the sale. In some you get to deduct the
> mortgage payoff amount. In some if the transfer is between relatives you
> don't pay it.
> So, generally speaking, the calculations are made based on the sale price
> minus your exemptions.
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