NAR: This tax day, homeowners are seeing the benefits of smart policy

As Americans file their taxes this week, many are seeing firsthand how housing policy shapes their financial future.

For homeowners, prospective buyers and real estate professionals, this year’s returns reflect the real impact of last year’s tax reform legislation, the One Big Beautiful Bill Act. The takeaway is straightforward. Pro-growth tax policy is delivering results.

That did not happen by accident.

The Trump administration, working with leaders in Congress, made a deliberate decision to prioritize economic growth, small business stability and homeownership. Those choices are now showing up in tangible ways as many Americans are seeing lower tax bills and higher refunds.

Before leading advocacy at the National Association of Realtors, I worked on financial services policy in Congress and at the U.S. Department of the Treasury. I saw how decisions made in Washington translate into outcomes for families and businesses. Today, representing more than a million Realtors, I see those outcomes playing out across housing markets nationwide.

This tax day, the benefits are clear

Homeowners are seeing the continued value of the mortgage interest deduction, which helps make homeownership more attainable and sustainable.

Small business owners, including most real estate professionals, are benefiting from a strengthened and permanent qualified business income deduction.  This big benefit allows them to reinvest in their businesses and their communities.

Families in high-cost states are seeing relief from an increased SALT deduction cap, helping ease their overall tax burden and making homeownership more feasible.

Long-standing tools like 1031 exchanges remain in place, continuing to support property investment, housing turnover and the supply needed to meet demand.

These are not abstract policy ideas. They are real savings and real incentives showing up in tax filings across the country.

They are also the result of sustained advocacy. Realtors have worked with policymakers on both sides of the aisle to protect pro-housing provisions and push for reforms that reflect today’s market. This law builds on that work and delivers one of the most meaningful tax outcomes for real estate in years.

At a time when affordability remains a challenge and the nation continues to face housing supply and inventory shortages, policy certainty matters. It gives buyers confidence, supports investment and helps keep the housing market moving.

Recent NAR polling highlights strong voter support for targeted tax solutions, with 84% backing tax-free savings for down payments, 76% supporting a one-time home sale with no capital gains taxes and majorities favoring expanded capital gains relief and incentives to boost housing supply.

There is more work ahead. Expanding supply and unlocking inventory will require continued focus and smart policymaking.

But this tax day offers a moment to recognize what is working.

When policymakers prioritize housing, support small businesses and focus on long-term growth, the benefits show up where they matter most. In communities, in markets and in the financial futures of American families.

Shannon McGahn is the first female Chief Advocacy Officer for the National Association of REALTORS with an extensive background in financial services and housing policy.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: [email protected]