When you SELL, you may get a refund from your Escrow.
If you are talking about Income Taxes on appreciation of your house;
You would pay nothing if you re-invested it in your next house.
But for this, and other considerations, you should consult a CPA or similar Tax person;
Realtor are not supposed to give LEGAL or TAX advice.
Good luck and may God bless
I assume, however, that you were referring to Income Tax. Current (2012) Federal tax laws allow for a tax free gain on the Capital Gains of your home sale up to a certain amount. If you are married and have lived in your home for 2 of the last 5 years, you are able to sell your home with NO TAX on the first $500,000 in capital gain. If you are single, the amount is $250,000.
This DOES NOT mean that selling a $750,000 home means you pay tax on 250,000.
Capital gain means the sales price of your home, minus the purchase price, minus any expenses for home improvement over the time you owned it, minus the costs involved in selling the home. So in the case of our $750,000 home, if it was purchased for $250,000, there would still be no federal tax due. In the VAST majority of cases, this means that you will owe no tax on the sale of your home. Although admittedly, Beverly Hills may be different in this regard!
After the deduction, you would pay capital gains tax on the remaining profit at your own tax rate. That calculation is best left to an accountant.
In 2013, there is a new provision that if you incur the tax because your profit is over $500,000 AND your income is more than $200,000, you may be subject to capital gains PLUS an additional tax of 3.8%. It bears repeating that this only applies if your profit from the sale is more than $500,000 which will affect well under 1% of all home sales.
As always, contact an accountant for specific financial advice for your situation!
Best of Luck!