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donated over 60 hours and 467 miles to serve hospice patients. Margaret Chewning of Orange was also elected. Mrs. Billie Lee Dunford-Jackson, of Culpeper, was elected to the board and appointed legal advisor. Mrs. Dunford-Jackson is an attorney with Davies and Barrell, P.C. Dr. Bill Young, psychiatrist, and Lee Bird, retired attorney, were elected from Rappahannock.
Real Estate ft
Eileen M. Day REALTOR
MORTGAGE DEDUCTION
CONCERN
Unless you wheel-and-deal in higher finance, your largest tax deduction is probably the interest on your mortgage. Now, there is concern that this deduction may be on the 'hit list’ of revenue-raising Congressmen. There is discussion about lowering the deductible amount.
This is not a new approach, in 1987, Congress set a $1 million tax deductible cap on the total mortgage debt for first and second homes. Realtors and homebuilders fought this bill and lost. There was not enough support from the average taxpayer who reasoned: "it will only affect the rich.' Realtors' true fear was the "camel's nose under the tent" syndrome. Once on the books - in ANY amount - it would be easier to just lower the cap In the future.
Congress can expect the fight of its life if it tries to reduce this cap significantly. Nothing is more effective than a barrage of letters asking to defeat such a measure.
if there is anything we can do to help you in the field of real estate please stop in at EILEEN M. DAY, Realtor, the Clopton House, Washington, Va. 22747. Phone 675-3033. We re here to help.
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