CALL FOR ACTION: TAX REFORM
Amy Fennell • October 19, 2017
The National Association of REALTORS® and Louisiana REALTORS® strongly encourages REALTORS® to TAKE ACTION. Pending tax reform plans threaten to wipe out the tax benefits of owning a home for 95% of American families.
CONGRESSIONAL ACTION NEEDED
Congressional Republicans and President Trump have promised the first comprehensive tax reform bill in more than 30 years.
REALTORS® need to remind Members of Congress and their staffs that tax reform must not dilute the current real estate tax provisions vital to the housing market and the economy.
REALTORS® reject proposals that repeal or weaken tax incentives to encourage homeownership. We need tax reform, but it must first do no harm.
CONGRESSIONAL ACTIONS TO DATE
Pending proposals would lower tax rates (including for corporations) and raise the standard deduction but pay for these changes by scaling back existing real estate tax provisions.
Proposals that limit itemized deductions — even if not directly changing rules applicable to mortgage interest — could have serious negative consequences for homeowners.
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By: Eric Landry, Breazeale Sachse & Wilson, L.L.P. Louisiana REALTORS® Legal Counsel Below are highlights of the changes to mandatory forms effective January 1, 2026. Louisiana Residential Agreement to Buy or Sell: Specific Changes Overall, several changes were made to re-order the agreement in an effort to have the agreement more closely track the sequence of events in a typical transaction. This resulted in relocation of several sections and corresponding changes to line number references in various places throughout the agreement.
