Tax Reform Plan: No Incentive for Homeownership
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Tags: tax reform
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I am all for incentives to build and or remodel. I believe it is unwise to link this to property taxes because those in lower tax districts would effectively be subsidizing homeowners in high tax districts.
Wow…I never thought of NAHB as a left wing organization. The MID penalizes millions of people who live in areas such as LA, SF and NYC where they will NEVER be able to purchase a home, so they are subsidizing the very rich. As your graphic shows, a $500,000 mortgage will cover 95% of the homes in America. People buying a home with a value greater than that clearly don’t need the deduction.