The prices of ready-mix concrete, gypsum, and softwood lumber fell 0.2%, 3.5%, and 0.1%, respectively, in January according to the latest Producer Price Index (PPI) release by the Bureau of Labor Statistics. OSB prices ticked up 1.8%, reversing the 1.3% price decline in December. Long-term trends in gypsum and ready-mix concrete prices are in focus this month,…
The 2015 American Community Survey data shows that New Jersey still leads the nation with the highest average annual real estate tax (RET) bill of $8,180—$7,528 more than RETs paid by Alabama’s homeowners. The overall distribution remained roughly unchanged since 2014, as the composition of the top and bottom ten remained the same. The map below clearly…
Homeowners saw their tax bills trimmed by more than 0 billion in 2014 according to estimates by the Joint Committee on Taxation (JCT) and NAHB analysis. The mortgage interest deduction (MID) alone accounted for $72.4 billion in tax savings, while the real estate tax deduction (RETX) saved homeowners an additional $30.2 billion. Rounding out the…
A new NAHB Economics research article shows that the effective real estate tax rates vary substantially across and within counties, with the highest rate area displaying rates that are often multiple times higher than the lowest rate areas within the same county. An “effective property tax rate” is the amount of property tax paid divided by…
NAHB’s recently published Housing Preferences of the Boomer Generation shows that homebuyers in the Baby Boom Generation want a suburban neighborhood consisting of all single-family detached homes more often than any other community feature (of the 19 listed), and nearly 80 percent prefer a cul de sac over efficient traffic flow when given the choice. These results…
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%….
A new study of California affordable housing developments provides important findings concerning the role and benefits of the Low-Income Housing Tax Credit (LIHTC). The affordable housing credit ensures a supply of equity financing for the development of needed rental housing. The report was prepared for the California Department of Housing and Community Development, the California…
