Increasing Homeownership Opportunities Through Modification of the IRS Rules Affecting Owner-occupied Housing

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ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (351 download)

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Book Synopsis Increasing Homeownership Opportunities Through Modification of the IRS Rules Affecting Owner-occupied Housing by : Richard K. Green

Download or read book Increasing Homeownership Opportunities Through Modification of the IRS Rules Affecting Owner-occupied Housing written by Richard K. Green and published by . This book was released on 1995 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Income Tax Provisions Affecting Owner-occupied Housing

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Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Income Tax Provisions Affecting Owner-occupied Housing by : James M. Poterba

Download or read book Income Tax Provisions Affecting Owner-occupied Housing written by James M. Poterba and published by . This book was released on 2008 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The mortgage interest deduction, the property tax deduction, the unique treatment of capital gains on owner-occupied homes, and the absence of taxation on imputed rent from owner-occupied homes all influence the effective cost of housing services. They also affect federal income tax revenues and the distribution of income tax liabilities. We draw on household-level data from the 2004 Survey of Consumer Finances to analyze how several potential reforms would affect incentives for housing consumption as well as the distribution of income tax burdens. Our analysis recognizes that changing the mortgage interest deduction would induce changes in household financial behavior. We estimate that repealing the mortgage interest deduction in 2003 would have raised income tax revenues by $72.4 billion in the absence of any portfolio adjustments, but by only $61.9 billion if homeowners responded by drawing down a limited set of financial assets to partially replace their mortgage debt. The revenue effects of changing the property tax deduction similarly depend on how state and local governments alter their mix of revenue instruments in response to federal tax reform. Our results underscore the importance of recognizing behavioral responses when calculating the revenue costs of income tax provisions relating to owner-occupied housing.

Tax Reform and Incentives to Encourage Owner-Occupied Housing

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ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Tax Reform and Incentives to Encourage Owner-Occupied Housing by : John E. Anderson

Download or read book Tax Reform and Incentives to Encourage Owner-Occupied Housing written by John E. Anderson and published by . This book was released on 2006 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public policy designed to encourage home ownership has operated primarily through the federal income tax system in the United States. With multiple incentives for home-ownership, the income tax system is the main tool by which the federal government encourages families to become home-owners and accumulate wealth in the form of real estate. Recent policy debate over reform of the tax system has questioned whether a mainstay of this system, the mortgage interest deduction (MID), is the best way to accomplish the stated objective. Last year the President's Advisory Panel on Federal Tax Reform recommended converting the MID into a 15% tax credit subject to regional caps related to median house prices, touching off a vigorous public debate on the importance of the MID. The purpose of this paper is to examine economic implications of that recommendation. We model how switching from the MID to a credit would affect housing finance choices between debt and equity and show how these changes would have changed the tax benefits for various households. Furthermore, we simulate the number of mortgage originations in 2004 (the most recent year which data is available) that would have been subject to the caps in the Panel's recommendation, and we identify the specific urban housing markets that would have been most severely affected. Finally, we conclude with policy discussion of the proposed credit alternative.

Taxation and Housing

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ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (255 download)

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Book Synopsis Taxation and Housing by : James M. Poterba

Download or read book Taxation and Housing written by James M. Poterba and published by . This book was released on 1992 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sketches how the tax reforms of the 1980s affected the incentives and distortions associated with tax policy toward housing markets. There are three principal conclusions. (1) Reductions in marginal tax rates, particularly for high-income households, reduced the tax-induced distortion in the user cost of owner-occupied housing. This lowered the deadweight losses associated with the favorable tax treatment of homeownership. (2) The increase in the standard deduction in the Tax Reform Act of 1986 (TRA86) removed several million middle-income homeowners who previously itemized from the ranks of itemizers. For these households TRA86 raised the marginal cost of owner-occupied housing. These changes also exacerbated the regressive nature of the mortgage interest subsidy. In 1988, more than half of the tax losses associated with mortgage interest deductions accrued to the 8% of taxpayers with the highest economic incomes. (3) TRA86 reduced incentives for rental housing investment, contributing to the decline in new multifamily housing starts from 500,000 per year in 1985 to less than 150,000 in 1991. In the long-run these policies will lead to higher rents.

The President's National Urban Policy Report

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ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis The President's National Urban Policy Report by : United States. Department of Housing and Urban Development

Download or read book The President's National Urban Policy Report written by United States. Department of Housing and Urban Development and published by . This book was released on 1980 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Monthly Catalog of United States Government Publications, Cumulative Index

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Publisher :
ISBN 13 :
Total Pages : 1466 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Monthly Catalog of United States Government Publications, Cumulative Index by : United States. Superintendent of Documents

Download or read book Monthly Catalog of United States Government Publications, Cumulative Index written by United States. Superintendent of Documents and published by . This book was released on 1976 with total page 1466 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Understanding the Real Estate Provisions of the Tax Reform

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Understanding the Real Estate Provisions of the Tax Reform by : James R. Follain

Download or read book Understanding the Real Estate Provisions of the Tax Reform written by James R. Follain and published by . This book was released on 1987 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital investment tax provisions have been changed numerous times in the last decade, with depreciation tax lives shortened in 1981 and lengthened ever since and capital gains taxation reduced in 1978 and 1981 and now increased. The first part of this paper analyzes these changes and attributes a large part of them, including the 1986 Tax Act, to changes in inflation: tax depreciation schedules and capital gains taxation that look reasonable when the tax depreciation base is being eroded at ten percent a year and an overwhelming share of capital gains is pure inflation take on a different appearance when inflation is only four percent. The remainder of the paper critiques the typical project model used to compute impacts of tax changes on real estate and report simulation results using a modified model.

Housing in the Seventies

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ISBN 13 :
Total Pages : 802 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis Housing in the Seventies by :

Download or read book Housing in the Seventies written by and published by . This book was released on 1976 with total page 802 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Monthly Catalog of United States Government Publications

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Publisher :
ISBN 13 :
Total Pages : 1386 pages
Book Rating : 4.:/5 (891 download)

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Book Synopsis Monthly Catalog of United States Government Publications by :

Download or read book Monthly Catalog of United States Government Publications written by and published by . This book was released on with total page 1386 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Low-income Homeownership

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Publisher : Brookings Institution Press
ISBN 13 : 9780815706137
Total Pages : 520 pages
Book Rating : 4.7/5 (61 download)

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Book Synopsis Low-income Homeownership by : Nicolas Paul Retsinas

Download or read book Low-income Homeownership written by Nicolas Paul Retsinas and published by Brookings Institution Press. This book was released on 2002 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume gathers the observations of housing experts on low-income homeownership and its effects on households and communities.

Housing in the seventies working papers 1 [and] 2

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ISBN 13 :
Total Pages : 804 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Housing in the seventies working papers 1 [and] 2 by : United States. Dept. of Housing and Urban Development

Download or read book Housing in the seventies working papers 1 [and] 2 written by United States. Dept. of Housing and Urban Development and published by . This book was released on 1976 with total page 804 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Housing Boom and Bust

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Publisher : Basic Books (AZ)
ISBN 13 : 0465018807
Total Pages : 194 pages
Book Rating : 4.4/5 (65 download)

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Book Synopsis The Housing Boom and Bust by : Thomas Sowell

Download or read book The Housing Boom and Bust written by Thomas Sowell and published by Basic Books (AZ). This book was released on 2009-05-12 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.

Journal of the House of Representatives of the United States

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ISBN 13 :
Total Pages : 2030 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis Journal of the House of Representatives of the United States by : United States. Congress. House

Download or read book Journal of the House of Representatives of the United States written by United States. Congress. House and published by . This book was released on 2005 with total page 2030 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some vols. include supplemental journals of "such proceedings of the sessions, as, during the time they were depending, were ordered to be kept secret, and respecting which the injunction of secrecy was afterwards taken off by the order of the House".

Income Averaging

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ISBN 13 :
Total Pages : 8 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Income Averaging by : United States. Internal Revenue Service

Download or read book Income Averaging written by United States. Internal Revenue Service and published by . This book was released on 1985 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Effect of the Tax Cuts and Jobs Act on the Housing Market

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ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Effect of the Tax Cuts and Jobs Act on the Housing Market by : Kamila Sommer

Download or read book The Effect of the Tax Cuts and Jobs Act on the Housing Market written by Kamila Sommer and published by . This book was released on 2020 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Tax Cuts and Jobs Act of 2017 (TCJA) reduced the incentive for households to claim itemized deductions that subsidize homeownership and simultaneously lowered income tax rates. We use an equilibrium model to quantify the effects of the TCJA on house prices, homeownership, and welfare. The reform removes the tax subsidy to owner-occupied housing for most households, who now choose to claim the standard deduction. However, over-consumption of tax subsidized housing by the remaining wealthy itemizers persists. Wealthy households benefit the most from this large tax cut, so the TCJA is a regressive policy that increases welfare inequality.

Illinois Business Review

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Publisher :
ISBN 13 :
Total Pages : 172 pages
Book Rating : 4.3/5 (126 download)

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Book Synopsis Illinois Business Review by :

Download or read book Illinois Business Review written by and published by . This book was released on 1985 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Generational Tensions and Solidarity Within Advanced Welfare States

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Publisher : Routledge
ISBN 13 : 1000459071
Total Pages : 183 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Generational Tensions and Solidarity Within Advanced Welfare States by : Asgeir Falch-Eriksen

Download or read book Generational Tensions and Solidarity Within Advanced Welfare States written by Asgeir Falch-Eriksen and published by Routledge. This book was released on 2021-09-12 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores generation as both a reference to family or kinship structures, and a reference to cohorts or age sets. The principal objective is branching out this two-part concept through studies of tensions and solidarity within and between generations of advanced and robust welfare states. Answering key questions using multiple disciplinary approaches, the book considers how generations challenge advanced and robust welfare states; how new and young generations are affected by living in an advanced welfare state with older generations; how tensions or solidarity are understood when facing challenges; and what the key characteristics are of certain generation types. It contributes to the development of a more comprehensive generation approach within social sciences by developing the concept of generation by exploring different challenges to the welfare state such as migration, digitalization, environmental damages, demands for sustainability, and marginalization. Highlighting the escalating tensions and altered versions of solidarity between generations, this book shows how a comprehensive concept of a generation can create new insights into how we collectively coordinate and resolve challenges through the welfare state. It will be of interest to all scholars and students of social policy, sociology, political science, and social anthropology.