Most can agree that America needs tax reform, but it’s important to us that we seek to assure that tax reforms support the goals of homeownership and the freedom to buy, maintain and sell real estate. During the week of October 23, 2017, NAR will be launching an all-member Call for Action to educate Members of Congress on NAR’s position on Tax Reform.
- NAR supports tax reform, but Congress needs to first do no harm to tax incentives that encourage homeownership.
- NAR rejects repealing or weakening tax incentives for homeowners, like the mortgage interest deduction and the state and local property tax deduction.
- These incentives are critical for a strong housing market that creates jobs and builds stable communities.
- We can’t let Congress turn reform into a tax increase for middle-class homeowners.
- Homeowners already pay 83% of all federal income taxes. Homeowners should not have to pay more taxes so corporations can pay less.
- Home-owning families with incomes between $50,000 and $200,000 could face average tax hikes of $815 in the year after enactment.
- Tax reforms under discussion could result in a drop of more than 10% in the value of all homes.
Be ready to tell Congress—Reform our tax code AND protect middle-class homeowners. Sign up for the REALTOR® Party Mobile Alerts to take action immediately. Simply text the word REALTOR to 30644.