taxes!

[sam]

when you purchase a pre-owned manufactured home from an individual, are you charged tax at the closing?

[rmurray]

Every state has different laws about sales tax...Call your Department of Revenue and ask...

Real estate taxes are usually prorated at the close..seller pays taxes until the day of the close and buyer pays the rest of the year..This would also be common on sales of the home only for advalorum taxes on the home..

There can be other taxes the buyer pays..example taxes on the loan...title fees...tag fees...If you can think of a name..the government has probably thought of a tax..

[Sharon]

Sam,

It does depend on your state. Murray answered true enough. Unless of course you were speaking of a park leased home. Each state is different with regards to sales and use taxes. If you buy the home new from a reatiler then you will pay sales tax at that time. If you buy a home used from an individual then you will probably have to pay use tax unless you are exempt (i.e. family member is selling). Check with your local Department of Motor Vehicles, Secretary of State, or whatever your state uses as a name.

[F Pow]

Hi, I just builded a new house in PA, at the of the year what percentage of taxes would I received back from the IRS if the house $256,000 @5.8%INT. At the end of the year.