High Income Homeowners Get Largest Share of Tax Benefits

Biggest houses and the highest incomes recieve the largest share of federal tax benefits for housing.

"Congress's bipartisan Joint Committee on Taxation recently" estimated that "homeowners will receive more than $116 billion in direct tax subsidies" in 2005. "Tax preferences for homeownership represent a significant chunk of the federal deficit, but they are so ingrained into home prices, mortgage affordability, housing construction and even local revenue systems that almost no politician on Capitol Hill -- or in the White House -- suggests publicly that they need to be pared back or terminated."

Thanks to Kurt Paulsen

Full Story: Tax Benefits Still Generous for Homeowners, But Biggest Incomes Earn the Biggest Share

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $199
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $14.95 a month
DVD Cover of The Story of Sprawl

The Story of Sprawl

See how America changed shape in this collection of historic films that visually document how sprawl evolved.
$29.99 for 2-DVD SET
T-shirt with map of Chicago

Show your city pride

Men's Ultrasoft CityFabric© tees. Six cities available.
$23.00