Taxes and Tax Breaks

[John S Rabi]

I have used it three times so far. (I sold my first condo past the 10 years; sold the second one in two years and paid a penalty; and I am using it now too.) You basically have to sign a Dedication Document at the Tax Office indicating you will not sell your property and use it as your primary residence for 10 years. The document will be recorded at the Bureau of Conveyences and attached to your title. If you sell/rent before the 10 years is up they will adjust your tax to the current rate and you also have to pay a 10% penalty on the difference of the "frozen tax" and the current tax.

John S. Rabi
ABR,CM,CRB,FHS,PB,R
http://www.JohnRabi.com
Typically Tropical Properties
808.327.3185