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.

1 minute read

November 1, 2017, 1:00 PM PDT

By James Brasuell @CasualBrasuell


Colorado Homes

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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."

Monday, October 30, 2017 in USA Today

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