With the passage of the state’s budget, NCAR encourages you to thank our legislative champions and those who stood up to support the policy priorities of REALTORS®.
This year’s budget addresses many of NCAR’s legislative priorities, including the MID and property tax deduction, Historic Preservation Tax Credit, and economic development programs like JDIG and the Film & Entertainment Grant program. Here are some additional highlights.
No change to the current MID and property tax deduction.
Restoration of the Historic Preservation Tax Credit for residential and income-producing properties through 2020.
The Workforce Housing Loan Program receives $12.5 million in funding in 2015-6 and $15 million in 2016-7.
Multiple economic development programs also receive funding, including $3 million for the OneNC Small Business Fund, $2.5 million for Rural Economic Development Grants, $30 million for Film grants, and $63 million for Job Development and Infrastructure Grants.
The Housing Trust Fund retains its annual funding allocation of approximately $10 million.
Please take the time to thank your members of the General Assembly for their work on behalf of REALTORS® and property owners.
Angie Hedgepeth, Government Affairs Director for the Association, attends all the local meetings each month, as well as NAR and NCAR meetings, and keeps members abreast of the multiple issues being addressed in local, state and national government. She prepares reports on the meetings she attends and they are included in the weekly "Government Affairs Update".
View more posts
