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New Tax Plan Bad For Real Estate

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Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
Winners and losers with every change in the tax laws. The only sure winner is TurboTax, CPAs and tax attorneys.
 

KHS445

Member
Joined
Aug 20, 2011
Professional Status
Appraiser Trainee
State
Michigan
Based on this article it appears those in highly taxed States feel it is ok for those in lower taxed States to subsidize them. May be a case of the chickens coming home to roost.

Nearly every tax bill or piece of legislation is going to have some winners and some losers. Personally on the surface I like the idea of State and Local taxes not being deductible. I can't get the time of day from anyone in Washington, but on a Local and State level I can get a fairly quick response from my representatives. This change may make the powers that be justify what they are taxing and spending versus saying don't worry about it because it is deductible from your Federal Taxes.
 
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