How Does The New Tax Bill Impact Homeowners?

Reblogger Gabe Sanders
Real Estate Agent with Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales 3090099

Wondering how the new tax bill will affect homeownership?  Here are some good insights from Amanda S. Davidson.  Though, I don't know if we really know all the effects as of yet.

Original content by Amanda S. Davidson 0225221517

How Does The New Tax Bill Impact Homeowners?

Many homeowners, buyers, and sellers are wondering how the tax reform legislation that passed in December is going to impact them. As with most things in real estate – it depends. There are several items in the bill that affect the housing market. Below is an overview of what it means for homeowners, buyers, and sellers.

Mortgage Interest Deduction – through the end of 2025 new home buyers will only be able to deduct interest on the first $750,000 of a mortgage. This is a decrease from $1 million. The deduction cap will revert to $1 million in loan value in 2026. This has no impact on EXISTING mortgages – only new home buyers. It’s important to remember that these are loan amounts and not sale prices.

New Tax Bill

Home Equity Loan Interest Deduction – the new bill suspends the interest deduction on home equity loans until 2026. This is a change from deductions being allowed for loans up to $100,000. That said, there is a caveat – interest on a home equity loan can be deducted if the proceeds are used to substantially improve the home.

State and Local Property Taxes with the new legislation the property tax deduction is limited to $10,000. There was previously no cap. ATTOM Data Solutions estimates that approximately 90,000 households will be impacted by this change in the DMV area.

Capital Gains – no change, the deduction for up to $500,000 for joint filers or $250,000 for single filers from selling a primary home remains. The requirement that the home was the filer(s) primary residence for at least two of the last five years also remains. 


If you're interested in learning more about the new legislation, read our full article on how the tax bill impacts homeowners.




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Amanda Davidson

Amanda Davidson Real Estate Group

Broker - Owner
Licensed in VA and DC

6485 Old Beulah Street
Alexandria, VA 22315

Cell: 703.431.3755
Fax: 703.562.7057


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William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

I meet with my CPA to find out many of the answers we need   sometime in a week to 10 days.

Jan 13, 2018 03:43 AM #1
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Gabe, thank you for the re-blog. I agree, too early to know the effects and I think they will be different depending on location. It sure has brought up a lot of questions, we've made more referrals to the CPA we recommend in the last couple weeks than ever. Have a great weekend. 

Jan 13, 2018 05:36 AM #2
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

No one knows yet....But they will soon !

Jan 13, 2018 05:56 AM #3
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I found out it will help me as part of some small businesses. I need to learn more.

Jan 13, 2018 06:19 AM #4
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for reblogging the post. I hope others will read it too and learn 

Jan 13, 2018 07:08 AM #5
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Good reblog, Gabe!  Thanks for sharing.  I missed the original post.  Have a great weekend.

Jan 13, 2018 08:04 AM #6
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Gabe - we will know more as the year progresses.

Jan 13, 2018 09:26 AM #7
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thank you very much, Gabe, for sharing this timely reblog selection.

Jan 13, 2018 09:58 AM #8
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Gabe good pick of a blog to re-blog.   This is really good information to share. 

Jan 13, 2018 10:15 AM #9
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Gabe Sanders lots of posts on this subject and this one was a great choice for a reblog!

Jan 13, 2018 10:01 PM #10
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thank you for stopping by and taking the time to read my re-blog.

Feb 05, 2018 06:18 AM #11
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for your comments. It’s always good to hear from you.

Feb 05, 2018 06:19 AM #12
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Stuart Florida Real Estate
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