Mortage Interest Deductions is a Home Ownership Incentive


 

 

The income tax deductions for mortgage interest and real estate taxes primarily benefit middle class taxpayers, and larger benefits are collected by larger households and families, such as those with children.
Introduced by Rep. Gary Miller of California, H. Res. 25 supports retaining the mortgage interest deduction.
At present, there are more than 40 co-sponsors for this important resolution.
There are ways for people to take action in support of the mortgage interest deduction.
Owners and renters think tax incentives to promote homeownership are reasonable.
72 percent of home owners agree and 82 percent of renters.
81 percent of the public feels that the mortgage interest deduction should remain in the tax code.
Support is strong across party lines.
69 percent of Republicans, 70 percent of Independents, and 83 percent of Democrats think it’s reasonable to have tax incentives for homeownership.
70 percent of the public would oppose a political candidate who proposed eliminating the mortgage interest deduction.
NAHB research reveals that tampering with the mortgage interest deduction would have a disproportionate impact, as a share of household income, on younger home owners.
Analysis by NAHB experts debunks the myth that the mortgage interest deduction is claimed by a relatively small number of taxpayers and primarily benefits higher-income taxpayers.
Other housing provisions might be at risk: 

Home equity loan interest deduction.
Property tax deduction.
Capital gains tax exclusion.
Low-Income Housing Tax Credit.
Depreciation for residential rental property.

More information and news releases can be found at www.SaveMyMID.com.
 

A Strong US Economy depends on Home Ownership.  Home Ownership builds strong communities and personal responsibility.

Advertisements

About Raleigh Homes Info

Greetings, My name is Tom Bohlmann. I am Allen Tate Realtor / Broker in the Raleigh, Durham, Wake Forest, Cary North Carolina areas. Your Home Search starts here: http://www.allentate.com/tombohlmann I have been involved in the Raleigh area real estate investing since 1995. I know all the ins and outs of many many different area markets that the average or even above average Realtor does not know. Give me a call or email so we can talk about your Real Estate Needs. Tom 919-543-5714
This entry was posted in Raleigh Area Real Estate and tagged , , , . Bookmark the permalink.