Data Shows State-by-State Impacts of MID on Middle Class
As debate over tax reform ramps up in Congress, NAHB is emphasizing the critical importance of the mortgage interest deduction (MID) to American families nationwide, and the many reasons that lawmakers should leave this key homeownership incentive intact.
To help further NAHB's efforts in this direction, our economists recently took a look at IRS data that helps illustrate the importance of the MID to the middle class in individual states across the country. It's understandable that MID claims will vary across different states, depending on such factors as house prices and other costs of living, household incomes and tax items such as property taxes or state income/sales taxes -- all of which help determine whether a home owner claims the standard deduction.
And indeed, the IRS data shows that the share of taxpayers who both claimed the MID on their 2010 federal income tax return and reported less than $200,000 in adjusted gross income was somewhat smaller in high cost states such as New York and California, where incomes tend to be higher. Even so, compared to the 91% of taxpayers nationwide who had adjusted gross incomes of less than $200,000 and claimed the MID in 2010, states with the lowest percentage of such taxpayers were still in the 87%-and-above range.
April Webinars Spotlight Green Building/Green Remodeling
Building Green with Structural Insulated Panels April 10, 2:00 p.m.-3:00 p.m. ET Energy conservation plays a major role in designing and building sustainable homes. Builders can achieve the most energy savings through a high-performance building envelope, such as structural insulated panels (SIPs). SIPs are an advanced prefab building system allowing builders to meet the energy, resource efficiency and indoor air quality metrics of today’s green building rating systems at less cost. This webinar covers the basics of SIP construction's sustainable attributes, such as thermal performance, resource efficiency and life-cycle analysis. Speakers: Frank Baker, director, PFB Corp/Insulspan; Bill Wachtler, director, Structural Insulated Panel Association (SIPA) Presented by NAHB Building Systems Councils
2012 National Green Building Standard: Remodeling Provision Defined April 17, 2:00 p.m.-3:00 p.m. ET The 2012 edition of the ICC 700 National Green Building Standard™ (NGBS) includes expanded options exclusively for remodelers to certify bath, kitchen and basement remodels and additions as well as whole-house remodels. In this session, the speakers will discuss the ins and outs for certifying remodels. The speakers will also explain how the NGBS's new streamlined format will be simpler for remodelers and home owners to understand and use. Speakers: Michelle Desiderio, Home Innovation Research Labs; Paul Sullivan, CGR, CAPS, CGP, The Sullivan Company, Inc. Presented by NAHB Remodelers
Today's House Design Photo is that of Archival Designs' Aspen Creek.
Choose from more than 400 house plan designs that we offer in a wide range of styles and sizes. Some of our more popular house designs include European-inspired Georgian and palladian homes, English manor house plans, Tuscan-style Italian villas, French chateaux, and colonial house plans. Our Tuscan-style villas range from 1800 sf to 14,814 sf, and the Newport classic house designs range from 1500 to 500o sf. Our starter castles, mansions and estate homes are designed in the grand tradition of some of the most impressive homes in the world. Please feel free to search our house designs offered. Our plans have been built around the globe, from Canada to Dubai, and one could be just for you!
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- Joanne Loftus