What New Tax Bill Means for You
The 2017 Tax Reform bill is inching closer to reality. Since most Californians are on edge about the new laws, we thought it would be helpful to highlight the importance of the new potential tax laws with emphasis on Real Estate implications.
At Narodny Real Estate, we are not writing this as a Democrat or Republican, but as Real Estate professionals. Our opinion of this tax bill is, well, that it’s horrible for the housing market. Downright awful. Let us dip your toes into this new Trump tax dimension.
According to Inman, here are the takeaways:
Reduction of mortgage interest deduction for new buyers
Previously at $1,000,000, the new cap for mortgage interest rate deductions will be at