Expert: Tax bill could affect home sales

Posted:

DECATUR, Ill. (WAND)- Tax reform bills being debated in Congress could affect home buyers and sellers in Illinois.

Proposals to end or cap deductions for state taxes could affect the costs of homes in states with higher taxes, said Greg Jaeger, a real estate industry expert with USAA.

“What will be interesting to see is how that plays out in terms of prices over time,” Jaeger said. “From a seller’s perspective, that may not be great, if that drives purchase prices down a little bit. From a buyer’s perspective, that could be really attractive.”

A proposal in the House to limit deductions for mortgage interest could affect home buyers and sellers as well, Jaeger said in an interview with WAND.

Current Conditions
/
  • Current Events

    • 2018 Winter Olympic Games listings

      These listings, which are subject to change, offer daily highlights of the XXIII Olympic Winter Games from PyeongChang, South Korea, programming across NBC, NBCSN, CNBC, USA Network, Olympic Channel: Home of Team USA, NBCOlympics.com, and the NBC Sports app.

    • Agribusiness Today

      Get your agribusiness report here!

    • Web Exclusives

      Here at WAND we strive to bring you the latest coverage on news happening across central Illinois, and this page is a continuation of that effort.
    More