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Old 10-29-2007, 03:43 PM
nanci2539 nanci2539 is offline
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Join Date: Jul 2007
Location: Harbor Hills Country Club
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Default Re: Closing Costs - New vs. Resale

That's the way it works. The bond can be paid off over 30 years with interest of course. Instead of about a 1.5% tax rate you will pay around 2.5%. So lets say your tax would have been 3750 with no bond it would now be around 6250 on a 250,000 house with no exemptions

Sandi, so what you're saying is the tax bill will be almost twice as much on a $250K home? At what interest rate are you carrying the bond?
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Tewksbury, MA<br />Naperville, IL<br />The Villages
 
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