Disclosure: Rose Law Group represents Fulton Homes
AZBigMedia
The Tax Cuts and Jobs Act won’t affect homes purchased with mortgage amounts under $750,000. This bodes well for new home builders in Arizona, which is a red-hot housing market. According to CNBC, the median home price, $255,000, is up 6% year over year. There was some speculation that the Tax Cuts and Jobs Act would soften the market by changing what was deductible as far as mortgage interest goes. The new law was the first major reform to the U.S. tax code in more than 30 years and some of its changes have been the source of confusion due to the complexity of the tax code. Fulton Homes wants their buyers to know that little change, if any, is on the horizon for the mortgage interest tax benefit and that’s a good thing
