Dear Paul,
Fireside Chat – This Friday at 7AM – (one hour earlier due to the Holiday)
When: Friday July 4th | 7:00 – 8:00 AM
Where: Chatham Perk
Perks: Coffee and light refreshments – my treat!
Because of the holiday week, Join me for an earlier edition of our weekly chat. We'll catch up on local market activity, summer buzz, and anything else you'd like to talk about..
Real Estate & Taxes: What’s in the Latest Bill?
The National Association of REALTORS® (NAR) shared highlights from a major tax bill that just passed the U.S. Senate and is expected to become law soon.
Why This Matters…
This bill represents a meaningful boost for the real estate market. It supports homeownership, encourages investment, and promotes economic growth. It also gives real estate professionals more tools, protects homeowners, and helps spur new housing development.
Here’s a quick summary of what they’re reporting:
Top 5 Provisions Backed by NAR
· Tax Rates Stay Low – Current income tax brackets are extended permanently
· Small Business Deduction Made Permanent – Benefits property owners and agents
· SALT Deduction Cap Increased (Starting 2025) – Increased cap could ease tax pressure in states like ours here in MA.
· 1031 Like-Kind Exchanges Protected – Thankfully, no changes to this important tool used in investment property sales.
· Mortgage Interest Deduction Extended – Kept in place for good.
Other Real Estate-Related Notables
· Affordable Housing Support Expanded
· Child Tax Credit Raised To $2,200 (and adjusted for inflation).
· Estate Tax Exemption Held at $15M – Avoids a planned reduction
· No Increase to the Top Tax Bracket – The proposed 39.6% top rate was removed.
· New “Baby Bonds” – A one-time $1,000 government investment for each child born after the law takes effect, potentially to be used for housing or education later in life.
· Stronger Opportunity Zones for Underserved Communities
Want to Talk More About It?
If you’re wondering how any of this might apply to your own situation - or if you’re just curious - feel free to reach out. I’m always happy to share what I’m learning.
And to be clear, I’m just relaying what NAR has summarized - this certainly isn’t advice (or political opinion), just an FYI for anyone interested in how policy might affect housing.
Enjoy the rest of your holiday week. As my Uncle Freddy used to say. “Drink a 5th on the 4th…” (To be clear, he was referring to lemonade. But feel free to add a little Titos - Just saying)
I hope to see you Friday morning at Chatham Perk – bring your appetite for the BEST coffee in town!
Best,
Paul Borde'
Realtor® | Coastal Cape Cod, MA
License: 9585841 (MA)