The National Association of REALTORS® has issued a Call for Action for REALTORS® across the country to contact their member of Congress and request they Reform Our Tax Code AND Protect Middle-Class Homeowners. Participating in the Call for Action is easy, and will only take you about 30 seconds.
We can’t let Congress turn tax reform into a tax increase for middle-class homeowners. Consider what effect the points below would have on your tax bill, the tax bill of your clients, and the impact on your business.
- 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.
- 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 need tax reform, but not at the expense of middle-class homeowners. Let’s take this opportunity to show Congress the strength of our REALTOR® voice and advocacy efforts.
Want to learn more? Check out the articles below for more detail.
- House Tax Bill Delivers Tax Hike on Homeowners from nar.realtor.com
- How Tax Reform Could Hurt Homeowners from Forbes, written by NAR’s Lawrence Yun.
- Tax Reform Framework Misses Mark from nar.realtor.com.
- If homeownership protections die under tax reform, real estate pros also pay a price from The Real Daily.
- REALTORS®: Don’t Penalize Homeowners letter to the editor from William E. Brown, published in the USA Today.
