The outline for tax reform released today, September 27th, by the group of legislators and administration leaders, known as the “Big 6”, could lead to a tax on homeownership for millions, according to the National Association of REALTORS(NAR) . NAR believes that the plan would amount to a de facto tax increase for homeowners, putting home values across the country at risk and ensuring that only the top 5 percent of Americans have the opportunity to benefit from the mortgage interest deduction.
