Portland Area Multifamily
- Thursday, May 17 4:00 pm – 6:30 pm
- Saturday, May 19 12 noon – 2:00 pm
|MLS #: 18474672||Taxes: $4,928|
|Lot Size:||Type: Multifamily|
|Year Built: 1972||Style:|
|County: Multnomah County||Community:|
- Elementary School: Grout
- Middle School: Hosford
- High School: Cleveland
- Gentle Sloping
Heating and Cooling
- Sewer: Public Sewer
- Fuel: Electricity
- Crawl Space
Listed by Holly Hummel
Licensed Broker in Oregon
|MLS #: 18390336||Taxes: $3,945|
|Year Built: 1909|
|County: Multnomah County|
- Elementary School: Boise-Eliot
- Middle School: Boise-Eliot
- High School: Grant
- Mississippi Arts
- Forced Air
- Heat Pump
- Sewer: Public
- Fuel: Gas
- Full Basement
- Roof: Composition
Listed by Holly Hummel
New tax legislation was signed into law at the end of 2017, and it included some significant changes for homeowners. These changes took effect in 2018 and do not influence your 2017 taxes. Here’s a brief overview of this year’s tax changes and how they may affect you*.
The amount of mortgage interest you can deduct has decreased.
Under the old law, taxpayers could deduct the interest they paid on a mortgage of up to $1 million. The new law reduces the mortgage interest deduction from $1 million to $750,000. These changes do not affect mortgages taken out before December 15, 2017.
The home equity loan deduction has changed.
The IRS states that, despite newly-enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity loan, home equity line of credit (HELOC) or second mortgage, regardless of how the loan is labeled. The Tax Cuts and Jobs Act of 2017, enacted December 22, suspends from 2018 until 2026 the deduction for interest paid on home equity loans and lines of credit, unless they are used to buy, build or substantially improve the taxpayer’s home that secures the loan.
The property tax deduction is capped at $10,000.
Previously taxpayers could deduct all the state, local and foreign real estate taxes they paid with no cap on the amount. The new law limits the deduction for all state and local taxes – including income, sales, real estate, and personal property taxes – to $10,000.
The casualty loss deduction has been repealed.
Homeowners previously could deduct unreimbursed casualty, disaster and theft losses on their property. That deduction has been repealed, with an exception for losses on property located in a federally declared disaster area.
The capital gains exclusion remains unchanged.
Homeowners can continue to exclude up to $500,000 for joint filers or $250,000 for single filers for capital gains when selling their primary residence as long as they have lived in the home for two of the past five years. An earlier proposal would have increased that requirement to five out of the last eight years and phase out the exclusion for high-income households, but it was struck down. Find out more about 2018 tax reform.
How does tax reform affect your plans for buying or selling a home?
*Please consult your tax advisor if you have any questions about how the new tax reform impacts you
Portland’s *NEW* Mobile Meter Maid
Parking Kitty is Portland’s new mobile app that makes your parking experience simple because that’s the way it should be. Park, pay, and be on your way.
Fun event for all ages! Visit the Portland Winter Lights Festival website for more details including scheduling and artisit information.
We need your help! On September 12th, at The Fields Park we are uniting with 10,000 people from around Oregon and SW Washington to walk in, and fundraise for, AIDS Walk Portland. Please help us out by either joining the Windermere Community Realty team and walking with us on September 12th or by making a donation of any size.
One donation from you can transform the life of someone living with HIV/AIDS—or help prevent someone else from contracting the virus.
The news media gives the impression that HIV/AIDS is no longer a serious threat. Despite advances in treatment, HIV carries a huge emotional and financial burden. Plus, for most HIV-positive Oregonians, HIV is only one challenge they face among many. The harsh reality is that there is still no cure, and HIV infection rates remain steady in Oregon and Southwest Washington.
You can simply register today at www.AIDSwalkPortland.org and join team Windermere Community Realty or go to http://aidswalkportland.org/teampage.asp?fundid=4454#.Ve8vKvQ_uXg and make a donation.
Thank you for your support!