EconomicsGeneral Real Estate

C.A.R. ACTIVELY OPPOSING GOP TAX PLAN

Bad policy

C.A.R. ACTIVELY OPPOSING GOP TAX PLAN
C.A.R. and NAR are actively opposing the current version of the proposed GOP tax reform proposal due to its negative impact on homeownership and because it increases taxes on many middle-class homeowners in the state.

C.A.R. President Geoff McIntosh voiced the Association’s concerns, which has been mentioned in several recent news articles.

“The tax reform proposed by the Republican leadership will eliminate the incentive for people to buy homes, shrink the middle class, and raise taxes on hundreds of thousands of California homeowners,” said C.A.R. President Geoff McIntosh. “The doubling of the standard deduction, coupled with the elimination of state and local tax deductions, such as property taxes, will adversely impact California and its housing market. The average California homebuyer could end up paying $3,000 more a year in taxes under today’s proposal.”

Read more about tax reform and C.A.R.’s opposition

LA Times
Housing Wire

Leave a Reply

Your email address will not be published. Required fields are marked *