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CALL FOR ACTION: TAX REFORM
Amy Fennell • Oct 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.
A Message from Ken Fears, NAR Director of Conventional Finance and Valuation Policy
Since REALTORS® are essential in enabling housing access for all people, regardless of background or attributes, they view adherence to the FHA as both a legal and moral responsibility.
Selling a home without a REALTOR® can create all sorts of different risks that can cause your property to be misperceived and potentially undervalued. Here are three things you’re risking if you decide to sell your home without the knowledge and skills of a trusted REALTOR®.
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