As this season’s controversies swirl through Washington, one of them seems likely to wind up being at the top of the heap: federal income taxes. Whether or not they will be simplified (hopefully) or lowered (ummm--probably?) will be sorted out in due time, but one detail is a lead pipe cinch: when the dust clears, the real estate tax advantage will remain.
If any politician is thinking about eliminating the real estate tax advantage, he or she is wisely being very quiet about it. For good reason: that’s an idea that would probably lead to a quick retirement from public life courtesy of many displeased voters. Certainly, that’s likely to be the case as far as Herndon homeowners and home buyers are concerned.
I don’t provide financial or tax advice, but some of the long-standing real estate tax advantages are well-known and detailed on Uncle Sam’s public sites. The headline tax benefits of homeownership explains their widespread support—among them:
Finance blogger Bob Christman’s recent “Real Estate Markets on the Mend" article centered on the real estate tax advantage being key to why “more Americans may be in a position to buy or sell properties in 2017.” He listed more reasons, but for Herndon taxpayers, the tax ramifications can be persuasive—and another good reason to give me a call to explore today’s market!
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