For the past 43 years, my husband and I have lived and raised our family in Loudoun County. We started in a townhouse in Sugarland Run, moved to a single family house there, and eventually found ourselves in CountrySide. All these homes were in homeowners association communities. Over the years, our taxes and homeowners dues have risen dramatically. As a young family and now as retirees, these sometimes double payments for services from the county and association have been hard to meet.
That’s why I appreciate that Rep. Barbara Comstock (R-VA), is working with both Democrats and Republicans to address this problem. She has cosponsored a bill, introduced by Democrats Rep. Anna G. Eshoo (D-CA) and Rep. Mike Thompson (D-CA), which would allow homeowners earning up to $115,000 in annual income to deduct up to $5,000 in community association fees from their federal tax liability. The Helping Our Middle-Income Earners (HOME) Act will not only make homeownership more affordable, but will also provide those currently residing in condominium associations and homeowner associations with more take home pay. This extra income is sorely needed for many families in our area in helping to offset steep costs of daily expenses.
I appreciate Barbara’s efforts in trying to get a little bit of money in my pocket to spend and invest as I please and I hope Congress will consider this legislation as a part of comprehensive tax reform.
Mary Gail Swenson