TBO.com - TBO is Tampa Bay Online

Tax The Sales Amount

ADVERTISEMENT

The Tampa Tribune

Published: August 15, 2008

In reading "Tax 'Mess' Muddles Short Sales Of Homes" (front page, Aug. 13), it appears this is a great opportunity for our legislators to shine and come up with a common-sense solution. At issue here is whether the document stamps apply to a mortgage balance or the final selling price of the house in a short sale, where the mortgage lender accepts less for the house than what is owed.

I am one of those who price these homes for major mortgage holders so they can make a determination on the final selling price of a property. If one uses common sense, the solution is very simple: Tax the sales amount.

If a new home, just built with a $300,000 mortgage were to burn down, would it be fair to tax it at the rate on the mortgage? In attempts to get more revenue we lose sight of the common sense approach at times.

It is fair to tax on what a property has been sold for; that is the whole reason for the short sale.

FRANK POPELESKI

Seffner

Share this:

Loading Comments...

Email Print

ADVERTISEMENT