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Tag Archives: taxes

Ripple Effect

Editor's note: This story was originally featured in the March issue of DSNews, out now. When the Tax Cuts and Jobs Act went into effect, many in the industry began to speculate what impact this would have on home prices, ...

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States Trying to Circumvent Federal Property Tax Changes

While the long-term effects of the recently passed Tax Cuts and Jobs Act remain to be seen, one of the more controversial changes in the law involves caps on interest payment deductions and property tax deductions. Prior to the tax ...

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The Best and Worst States for Property Taxes

According to the U.S. Census Bureau, the average American household spends $2,197 on property taxes for their homes each year. That’s no small chunk of change for many households, so property taxes are inevitably a factor when homebuyers are trying ...

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New York: A Property Tax Epicenter

When it comes to prices, nothing tops New York. 83 of the 100 buildings with the highest property taxes are located in New York City, according to a recent study. Topping the list is the the General Motors Building, which paid a total of $71,681,674 in taxes in 2016.

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Two Sides to Tax Reform

Reflecting promises made on the campaign trail, President Trump’s tax reform proposal appears to be an effort to reduce tax burdens for Americans as well as simplify the nation’s tax structure. Based on the outline presented this week, we now have a clearer picture of the administration’s primary goals for tax reform, but those goals will need to be formalized in detailed legislation.

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Treasury Announces Corporate Tax Cuts

On Wednesday afternoon, Treasury Secretary Steven Mnuchin released a tax reform plan which could have a significant impact on the mortgage industry and the financial industry as a whole. In an interview with The Hill, Treasury Secretary Steven Mnuchin called the tax cuts in President Trump’s reform “The biggest tax cut and largest tax reform in history of this country.” The proposal calls for a reduction of corporate taxes down to 15 percent, cutting the top tax bracket down to 35 percent, and doubling the standard deduction.

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