Efforts to reform the tax code are moving in Washington, DC. Tax incentives that boost investment across the country are being reviewed in the tax reform discussion. Programs such as the 1031 Like Kind Exchange, Mortgage Interest Deduction and property tax deductions are facing scrutiny.
National Association of REALTORS® President Bill Brown said in a statement, “NAR will strongly oppose any attempt to limit or eliminate tax incentives for home-ownership and real estate investment.” To hear his full statement click here.
The ARA will continue to follow these efforts and keep you informed.