Tax Reform

Author profile image

Last week, Congress introduced a “tax reform” bill in the House of Representatives. C.A.R. strongly OPPOSES this bill because it would harm homeownership in California. California is already becoming a renter state and this bill will further depress the homeownership rate.

Among the many ways this so-called “tax reform” bill will hurt real estate:

  • Cuts the mortgage interest deduction cap in half from $1 million to $500,000.
  • Homeowners would no longer be able to deduct the interest on home equity loans.
  • Eliminates state and local income tax deductions.
  • Caps property tax deductions at $10,000.
  • Requires five years instead of two for exclusion of capital gains tax on the sale of a primary home and is phased out at higher income levels.
  • Eliminates the mortgage interest deduction on second homes.

Source: California Assocation of Realtors

Category : Blog

About Us

Since 1970 Rinetti & Co. Realtors has been selling residential and commercial real estate throughout the greater East Bay. We are boutique real estate company with a single focus, exceptional customer service from start to finish. Rinetti & Co. Realtors has the experience and practical knowledge to adapt to changing market conditions while providing our clients expert advise when buying or selling a home. If you’re considering making a move please contact us and see the difference Rinetti & Co. Realtors can make for you.

Testimonials

The only realtors in San Leandro...You will not meet two finer or more ethical realtors. The best! - Gary S.

Rinetti & Co. turned out to be the perfect place for me to do business...I would not hesitate to recommend their services to anyone buying or selling property. - Mary K.

...As I am sure you are aware, a house is stucco, wood and nails, but a home is where a lifetime of memories are created. Our mother was very proud of her home, it meant so much to her.

- Trent B.

...Thanks for your patience, guidance & professionalism, you made this experience a great one that we will never forget...We can’t thank you enough, thanks a bunch!!! - Rocio R.

If anyone in the East Bay is looking to buy or sell a home, please consider my friends and agents Tianne Rinetti-Vittoria and Perry Vittoria! They helped us buy our house and did an amazing job! They go above and beyond.”

- Chris S.


San Leandro Office
1103 MacArthur Boulevard
San Leandro, CA 94577

(510) 568-6171

Pleasanton Office
231 Old Bernal Avenue, Suite 5B
Pleasanton, CA 94566
(925) 364-5013

Email Us

CA BRE Lic. #01461822

Send to Friend

Email Agent