As we continue to face housing affordability challenges affecting renters, buyers and homeowners, the American Property Owners Alliance remains committed to advocating for policies and regulatory changes that unlock more value for property owners and broader access to homeownership.

In Focus: Tax Policies Impacting Homeowners and Renters

Tax season is right around the corner, and The Alliance is helping homeowners understand and take advantage of the tax credits available to them. At the same time, we are advocating for federal tax policies that would expand deductions for homeowners and incentivize the development of more affordable homes and rentals.

New tax provisions allow property owners to deduct up to 30% of the cost of qualified residential property equipment upgrades. If you made energy efficiency upgrades in 2023, be sure to take advantage of energy efficiency tax credits or keep them in mind for improvements you’re planning for 2024.

Tax Cuts and Jobs Act provisions that have impacted homeowner tax deductions are set to expire in 2025. The Alliance is laying the groundwork now to help ensure that any new tax law will restore critical tax deductions for homeowners.

Furthermore, bipartisan policies are on the table right now that can expand tax incentives to address America’s affordable housing shortage, improving access to affordable homes and rentals. We welcome you to learn more about these commonsense solutions and add your voice to support the swift passage of these policies.

What’s New

During Black History Month, we honor and celebrate the many generations of Black Americans who have helped shape our nation. This month and throughout the year, we also acknowledge that the gap in the Black-White homeownership rate is the largest it has been in decades; today, only 44% of Black Americans own a home, compared to 72.7% of White Americans.

Fortunately, there are influential leaders who are taking action across the public and private sector to address barriers to homeownership that have an outsized impact on minority populations. Learn about three leaders paving the way for equitable homeownership.

In my new piece, read how The Alliance and aligned organizations are focused on closing the homeownership gap, and learn about our work to address the racial disparities riddling the housing market and improve equitable access to homeownership for all.

What’s Coming Up

With presidential primary elections underway in many states, it’s critical for leaders to address the years of underinvestment and underbuilding that have left America with a severe housing shortage and a lack of affordability in the market.

Federal policies exist to increase housing supply and make homes more affordable, including housing grants to remove regulatory barriers to building more homes, tax credits to convert unused or outdated buildings into residential housing, and incentives to build and rehabilitate homes in the communities most in need of investment.

We’re putting a spotlight on the role of the federal government in strengthening housing supply and affordability in communities throughout the country. Learn more about our focus and how to take action by visiting our Action Hub today.

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And make sure you’re following along on Twitter and LinkedIn for industry expertise.

Thank you,

Colin Allen, Executive Director