sales tax

[billlaur]

Is it true there is a 7% sales tax on new homes and no sales tax on pre owned homes???
Thanks

[Russ_Boston]

Is it true there is a 7% sales tax on new homes and no sales tax on pre owned homes???
Thanks


Why do you ask this again? You asked on another thread and it was answered - NO! https://www.talkofthevillages.com/forums/showthread.php?t=31450&highlight=sales

If your question is for legit reasons and just knowledge could you please provide the source for the mis-information? Did you read this someone? Did a RE agent say this? Other?

Just trying to find out where this came from.

[elevatorman]

Question, Why is this post the posters 4th post and the post on the other thread Russ cites is also the 4th post?

[graciegirl]

Now Billaur, It is possible that you are asking this same question again because you aren't familiar with navigating this forum?

BUT, sometimes I suspect that people post questions and misinformation because they enjoy making trouble.

Now I am sure that is not true of you Billaur. I welcome you and hope that we can answer your questions and that you too will visit this place, both Talk of the Villages and The Villages and find it as wonderful as we do. By the way, Talk of the Villages is an independent forum not connected or owned by The Villages.

[getdul981]

Question, Why is this post the posters 4th post and the post on the other thread Russ cites is also the 4th post?

Every post is updated every time you make one. Go back to your very first post and it will have your cumulative total posts.

[Russ_Boston]

To be fair I'll answer the question assuming it is honest:

I'm buying a home right now in TV (new) and there is no sales tax imposition. I'm sure that information would be all over this board if it were true. Think about it - a 300K home would be taxed at 21K!

Perhaps you're confusing sales tax with the bond? The bond on my home is about 20K. But that bond is on all homes (except when Lake County TV homes were new) when they were new and many (most?) resales would still have a large bond balance. Maybe your agent was referring to some resales where they had already paid off the bond?

But this is not a bond thread. That issue is also very easily searchable by using the search button above.

[chuckinca]

They may be confusing the 7% interest rate on the bond with sales tax.


.

[mak44070]

There is a city/county tax/stamps and a state tax/stamps (line 1202 and line 1203 on the HUD Statement). It appears to be .2% and .35% of the mortgage, payable at closing.

[billlaur]

REFERRED TO AS' doc stamps',IS 7 PER CENT..tHIS 7 PER CENT IS PAID BY THE BUYER ON A NEW HOME AND BY SELLER ON A PRE OWNED...just TRYING TO FIND OUT some info before buying in this place...Ever hear of DOC STAMPS???
Thanks:::

[bkcunningham1]

http://dor.myflorida.com/dor/tips/pdf/tip08b04-01.pdf

[mak44070]

REFERRED TO AS' doc stamps',IS 7 PER CENT..tHIS 7 PER CENT IS PAID BY THE BUYER ON A NEW HOME AND BY SELLER ON A PRE OWNED...just TRYING TO FIND OUT some info before buying in this place...Ever hear of DOC STAMPS???
Thanks:::

Looking at my HUD statement on the purchase of our new home: Line 1203 /state tax/stamps based on the Deed, is .7%, and this was paid by the Developer

[Russ_Boston]

Ahhh, math comes back to haunt us again.

[Pturner]

Ahhh, math comes back to haunt us again.

Go figure!

[downeaster]

REFERRED TO AS' doc stamps',IS 7 PER CENT..tHIS 7 PER CENT IS PAID BY THE BUYER ON A NEW HOME AND BY SELLER ON A PRE OWNED...just TRYING TO FIND OUT some info before buying in this place...Ever hear of DOC STAMPS???
Thanks:::

Doc Stamps are seven cents per one hundred dollars of sale price.

That is considerably less than seven per cent.

As far as I know, there is no law dictating who pays for it. That would be addressed in the Contract Of Sale.

If you are serious about buying here I would suggest you contact a Villages sales person as well as local Realtor (ask for a buyer's agent). I might further suggest using a real estate lawyer if you feel uncomfortable with the process.

If you want advice on a local Realtor, I can't help as I bought new. However, if you ask, you will find many here who would offer you advice based on their buying experience.

[Skip]

If I'm not mistaken, if you buy a fully furnished (NEW or LIFESTYLE PROGRAM) house from the developer (and there seems to be a few around), you'd need to pay 7% sales tax on the furnishings.

Skip

[graciegirl]

If I'm not mistaken, if you buy a fully furnished (NEW or LIFESTYLE PROGRAM) house from the developer (and there seems to be a few around), you'd need to pay 7% sales tax on the furnishings.

Skip

That certainly makes cents, Skip. I have a friend who bought a beautiful house furnished and if I remember correctly the furniture was in a separate type transaction.

But seven cents on a hundred bucks is far from seven percent. I think some of us get our knickers in a hitch way too fast.

[Russ_Boston]

I guess that makes sense Skip.