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Real Estate Eileen M. Day realtor HOMEOWNER TAX REFORM WINNER £* £ QUESTION: How did the average homeowner make out under the ** latest tax reform bill? ANSWER: In the midst of drastic ^cutbacks in investment preferences Everywhere else in,jhe tax code, it is evident that owners of first and second homes are the big winners. Deductibility of mortgage interest and property taxes for primary and second residences remains completely intact. This has often been the largest tax deduction for most homeowners and will continue to be so. Personal income tax brackets have dropped for everyone and there is a good chance that many homeowners will drop to a lower tax bracket after deducting their mortgage interest and property taxes from their gross income. Homeowners now have one of the very few personal-use tax shelters left standing in the wake of tax reform. The deductibility of mortgage interest and property taxes can only make first and second homes more t valuable. (1 If there is anything we can do to | Tielp you in the field of real estate i please drop in at EILEEN M. DAY, ; Realtor, The Clopton House, Wash\ jig ton, Va. 22747. Phone: 675-3033. ■ ?Ve’re here to help. t
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