The National Association of Home Builders reaffirms its commitment to housing incentives in the nation's tax system that make the American dream of homeownership a reality for a substantially greater group of Americans across the entire income spectrum and also promote affordable apartment homes, including most critically:
1. The deduction of mortgage interest on principal residences and second homes;
2. The deduction for local property taxes;
3. Tax Incentives for Remodeling, including energy efficiency tax credits;
4. The tax exemption for interest on mortgage revenue bonds for owner-occupied housing and exempt facility bonds for low-income renter-occupied housing;
5. The exclusion of capital gains on the sale of a principal residence;
6. The low-income housing tax credit;
7. The accelerated depreciation of rental housing;
8. The completed contract rules.
Further, NAHB strongly urges Congress to oppose any tax revisions that do not take into account the special importance of housing to the economy and the stability of neighborhoods and communities.
Resolution originally adopted: 05/2011, Resolution Number 4&
Committee with primary jurisdiction: Federal Governmental Affairs Committee
View full text of resolution.