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Home Builders Oppose Changes to Property Tax, Mortgage Interest Deductions

The National Association of Home Builders has decided that the Republican tax reform proposal would lower property values.
November 1, 2017, 1pm PDT | James Brasuell | @CasualBrasuell
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The National Association of Home Builders has launched an initiative to oppose a potential tax reform proposal pushed by Republican leaders in Congress.

The opposition from the powerful industry lobby comes "despite an announcement by a key House Republican, Ways and Means Chairman Kevin Brady of Texas, that a deduction for property taxes would be maintained in tax legislation that is to be unveiled Wednesday," reports Herb Jackson.

A tax reform package proposed in September by the Trump Administration maintained deductions for mortgage interest, according to Jackson. But, "[s]taff from the home builders association had been meeting with Brady's staff because of concerns that eliminating the property tax deduction, combined with a proposal to double the standard deduction, would reduce the tax benefits of home ownership."

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Published on Monday, October 30, 2017 in USA Today
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