Tag Archive for ‘tax’

Property Tax Revenue Grows Over Four Percent

NAHB analysis of the Census Bureau’s quarterly tax data shows that $524 billion in taxes were paid by property owners over the four quarters ending in Q1 2016. This represents a $22 billion—or 4.4%—increase over the previous trailing four quarters, the largest percentage increase since 2009. Property taxes accounted for 39.3% of state and local tax receipts, the largest share… Read More ›

Property Tax Revenue Grows Nearly Four Percent

NAHB analysis of the Census Bureau’s quarterly tax data shows that $519 billion in taxes were paid by property owners over the four quarters ending in Q3 2015. This represents a $19 billion—or 3.9%—increase over the previous trailing four quarters, the largest annual increase since early 2010. Property taxes accounted for 39.1% the largest share, of state and local tax… Read More ›

Tax Extenders Bill: What the Housing Industry Needs to Know

As Congress looks to wrap up its work for 2015, a bipartisan agreement was reached on two key pieces of legislation: an omnibus spending bill to fund the federal government and a more than $600 billion bipartisan tax bill that extends a number of tax policies, including some related to housing, construction and real estate. Some extensions are made on a permanent basis, and… Read More ›

Property Tax Collections Increase

According to NAHB analysis of Census Bureau’s quarterly data, property taxes made up 38.9% of state and local tax receipts among major sources over the last four quarters. Property tax collections, including commercial real property taxes and personal property taxes, totaled more than $503 billion over the last year. This represents an increase of almost $13 billion, as measured on a four-quarter trailing basis, or… Read More ›

International Perspective: The VAT and Housing

***The following post was authored by NAHB’s Economics and Housing Policy Group’s summer intern, Emily Condos. Value Added Taxes (VAT) are a reliable source of revenue for many governments, with the United States being a notable exception with respect to their use. The taxation of housing is a key element in designing a VAT. An overly broad tax base with… Read More ›

New Residential Energy Tax Credit Estimates

In 2005, Congress established a number of energy-efficiency tax incentives related to housing that benefitted new home buyers and remodeling homeowners. These policies included the tax code section 45L credit for the construction of energy-efficient homes (including for-rent residences and low-rise apartments), the 25C credit for retrofitting/remodeling existing homes, and the 25D credit for the installation of power production property in… Read More ›

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 ›

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 ›