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ARE BUYERS AND PROPERTY OWNERS RESPONSIBLE FOR PAYING ADDITIONAL TAXES APART FROM PROPERTY TAX?

April 26, 2017additional apart Buyers owners paying Property responsible taxes

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ARE BUYERS AND PROPERTY OWNERS RESPONSIBLE FOR PAYING ADDITIONAL TAXES APART FROM PROPERTY TAX?

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Property owners are required to pay tax on personal income if they sell real estate that was acquired within three years of a new sales contract for the same property. The difference on the purchased and selling price is only taxed, but it is also possible to free the buyer of these obligations in some circumstances.