Homestead mailing list

["Lynda" <lurine AT com-pair.net>]

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

Lynda
----- 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.