2007-01-07 02:55:25 · 6 answers · asked by saphie 1 in Business & Finance ➔ Taxes ➔ United States
If you are buying a used home; NO. If you are buying a new home; the answer will be no with one caveat.
With the actual answer being based on your state's tax law, if you are having a home custom built for you where you hired a contractor to build it you may be charged sales tax on some or all of the contract. Labor in some states may be exempt but the actual materials may be subject to sales tax.
2007-01-07 05:47:35 · answer #1 · answered by zudmelrose 4 · 0⤊ 0⤋
As with any sale tax question, it depends on the law in your state. I don't recall any sales tax when I bought a home in OH. Call any Realtor in the phone book and they will know.
2007-01-07 04:47:48 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Only if your new home is a mobile home from a dealer. It is not considered 'real property'.
Florida charges taxes based on the mortgage but of course this is something that varies from state to state.
2007-01-07 03:01:50 · answer #3 · answered by hernandoguy 2 · 1⤊ 0⤋
Not directly, but your builder probably paid (depending on the state where you live) a lot of tax on the materials he used, so indirectly you are.
2007-01-07 03:34:59 · answer #4 · answered by SDD 7 · 1⤊ 0⤋
I don't believe so, you just have to pay interest on your mortgage.
2007-01-07 04:08:19 · answer #5 · answered by L 3 · 0⤊ 1⤋
No.
2007-01-07 02:57:14 · answer #6 · answered by Anonymous · 1⤊ 0⤋