Officials appear to be warming to the idea of imposing the country’s first national tax on homes to cool a market subject to wild booms and busts.
The I.R.S. called into question a strategy of prepaying property taxes before the new tax law goes into effect. That could be just the beginning of the confusion.
Some economists say the Republican bills, by curbing or eliminating key deductions, could hurt property values, raise mortgage rates and reduce sales.
By ALAN RAPPEPORT and JIM TANKERSLEY October 3, 2017 WASHINGTON — Republican leaders are backing away from a proposal to fully repeal an expensive tax break used by more than 40 million tax filers to deduct state and local taxes amid pushback...