Posts Tagged 'taxes'

“The Invisible Renter” via the NY Times

Yesterday, a short article in the NY Times covered an important issue for renters: the fact that home-owner tax benefits are not extended to renters. Particularly in New York, where people spend so much of their income on rent, the lack of tax breaks for renters can be a serious disadvantage. Depending on how much rent you pay, you may be losing hundreds of dollars a month in taxes that a home-owner gets to keep. This issue should be brought into greater prominance as economic times get tougher and politicians look for ways to help Americans keep more money in their pockets. It becomes clear that the tax code is overwhelmingly biased towards home-owners. The article offers no reasons or history of why this is so but I hope that the NY Times revisits this subject in further reports. Read the full article here.


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Michelle Erfer is a licensed Real Estate Salesperson in New York City.
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