TAMPA – As Florida’s coffers shrink in the face of a dour economy, confusion over a tax statute threatens to choke the flow of home sales at a time when the state is struggling under the burden of millions of unsold properties. The problematic statute mandates how much tax people pay when they sell a house.

In typical transactions, the law is clear about paying taxes on the price of the property, but as lenders agree to more short sales – allowing troubled owners to sell homes for less than the mortgage and writing off the rest – there’s disagreement over how much tax to charge.  read more

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