While the Trump Administration’s new tax proposal doesn’t eliminate the mortgage-interest tax deduction (MITD), it doubles the standard deduction and eliminates the ability of filers to deduct state and local taxes, including property taxes. Experts at Trulia and Bloomberg say the homebuyers most likely to be affected are middle-income American households making between $68,540 and $129,422 who are looking to purchase a home priced between $358,000 and $676,000.
Advertisement
Related Stories
Sales
What the NAR Commissions Settlement Means for Home Builders
The legal settlement will improve transparency during the home sales process, mitigate predatory practices, and help preserve profitability for home builders
Sales
Sales and Texting? Know the Rules
Texting your sales prospects en masse can be an efficient way to get your message through if you follow these best practices
Affordability
Will NAR's Landmark Commissions Settlement Lower Housing Costs?
The $418 million deal changes long-standing rules—written and unwritten—that consumers claim inflated sales commissions for home sellers, including new-home builders