CALL FOR ACTION: TAX REFORM
Amy Fennell • October 19, 2017
The National Association of REALTORS® and Louisiana REALTORS® strongly encourages REALTORS® to TAKE ACTION. Pending tax reform plans threaten to wipe out the tax benefits of owning a home for 95% of American families.
CONGRESSIONAL ACTION NEEDED
Congressional Republicans and President Trump have promised the first comprehensive tax reform bill in more than 30 years.
REALTORS® need to remind Members of Congress and their staffs that tax reform must not dilute the current real estate tax provisions vital to the housing market and the economy.
REALTORS® reject proposals that repeal or weaken tax incentives to encourage homeownership. We need tax reform, but it must first do no harm.
CONGRESSIONAL ACTIONS TO DATE
Pending proposals would lower tax rates (including for corporations) and raise the standard deduction but pay for these changes by scaling back existing real estate tax provisions.
Proposals that limit itemized deductions — even if not directly changing rules applicable to mortgage interest — could have serious negative consequences for homeowners.
2026 Louisiana housing market outlook for agents. Learn how local data, pricing strategy, and negotiation tactics shape success in a balanced market.
From the Louisiana Department of Insurance: Insurance Commissioner Tim Temple announced today that the Louisiana Department of Insurance (LDI) continues its work to develop a regulation creating benchmark discounts for Fortified roofs in Louisiana. The LDI is working with the National Association of Insurance Commissioners (NAIC) to develop the benchmark discounts using Louisiana-specific data, hurricane modeling and actuarial considerations. “With over 11,000 Fortified roofs in Louisiana and two years-worth of insurer experience with rating for those roofs in our state, now is an appropriate time for the LDI to establish benchmark discounts for homeowners insurance companies operating in our market,” said Commissioner Temple. “These benchmarks are being thoughtfully developed to help consumers receive the discounts they deserve for fortifying their homes while making sure insurers know the benchmarks reflect how much Fortified roofs actually mitigate their exposure to risk across Louisiana.” Like in Alabama’s Fortified benchmark discount structure, the LDI regulation would require Louisiana insurance companies to either meet the minimum benchmark discount established by the LDI or provide actuarial justification for why the company’s discount does not meet the benchmark. Louisiana is the fastest growing state for Fortified roofs in America. To date, over 11,000 Fortified roofs have been installed in Louisiana, including over 4,100 through the Louisiana Fortify Homes Program.
Built for How You Work
