You’ve likely been hearing about proposals to reform the federal tax system.
But even though Congress is finally tackling long-overdue reforms, the current proposal will actually do much more harm than good for Texas homeowners because it would eliminate critical homeowner incentives, including state and local property tax deductions.
TAR’s analysis of the proposal’s impact on Texas found that …
- 95% of Texas homeowners would see a tax increase. The proposed plan would only provide relief to 5% of Texas households.
- Eliminating state and local property tax deductions would require Texas homeowners to pay taxes on an additional $13.7 billion.
The National Association of REALTORS® has issued a REALTOR® call for action on the federal tax reform framework, and you can participate right now by sending a message to your Congress members at texasrealestate.com/action.
Take action now, and tell Congress to support tax reform and protect middle-class homeowners.