Policy rss

An International Comparison of Real Estate Property Taxes

As a share of total taxes collected, real estate property taxes in the United States are responsible for a relatively high share of total government revenues. According to statistics produced by the Organisation for Economic Cooperation and Development (OECD), the average share of total government tax collections due to real estate property taxes (recurrent taxes on immovable property) was 3.347%. In contrast, for the United… Read More ›

New Study Highlights Importance of Like-Kind Exchange Rules

New academic analysis illustrates the critical role that tax code’s like-kind exchange rules play for the real estate sector. The research was authored by David Ling of the University of Florida and Milena Petrova of Syracuse University, with financial support from the Real Estate Like-Kind Exchange Coalition, which is comprised of organizations representing all sectors of the real estate industry, including… Read More ›

Nearly 90% of NAHB Remodelers Commonly Use Low-E Windows

Energy efficient windows again ranked as green feature commonly used by the most remodelers in NAHB’s Remodeling Market Index (RMI) survey for the first quarter of 2015.  Nearly 9 out of 10 remodelers surveyed said they’d commonly used low-e windows during the past year. Next on the list were high efficiency HVAC systems, programmable thermostats, and ENERGY STAR appliances, each… Read More ›

Wage Growth in the Home Building/Remodeling Industry

Over the 2012-2014 period, rising job openings and employment in the residential construction industry have led to wage increases, with some occupations within the home building and remodeling sector experiencing wage growth at a rate twice the national average. According to Bureau of Labor Statistics Occupational Employment Statistics Survey (OES) data and NAHB analysis, the 2014 median annual wage of most positions in… Read More ›

NAHB Updates Local Impact of Home Building Numbers

A recent Eye on Housing post reported on NAHB’s 800th customized local impact study. In addition to studies customized to a particular area, NAHB has traditionally produced a “typical local” report using national average inputs.  This report—showing the jobs, income and taxes generated by residential construction in a typical local area—is available free to everyone on NAHB’s web site. In April 2015, NAHB… Read More ›

Property Taxes Make Up 40% of State and Local Tax Revenues

According to NAHB tabulations of the Census Bureau’s quarterly data, property taxes constituted 39.7% of state and local tax receipts among major sources for 2014. Sales taxes had the second largest share at 27.8%, followed closely by individual income tax at 27.9%. At 4.6%, corporate income taxes held the smallest share of state and local tax receipts among major sources. Further gains are expected in… Read More ›

Working at Home: Who Claims the Home Office Deduction?

With tax preparation season well underway, it is a good time to examine the use of the home office deduction. Often cited as a “red flag” for tax audits, the home office deduction is in fact a legitimate business deduction with particular importance for certain careers and small business owners. Moreover – from the housing economics perspective – IRS data… Read More ›

Eye on the Economy: A Focus on Employment

While housing and the economy are off to a slow start at the beginning of 2015, positive developments in the labor market are a source of growing momentum, particularly for housing demand. In February, data from the Bureau of Labor Statistics (BLS) indicate that payroll employment expanded by 295,000 jobs and the unemployment rate dropped to 5.5%. It is important… Read More ›