The North Atlanta housing market is shifting. From the well-known neighborhoods of Marietta and Roswell to the growing areas of Woodstock, Canton, and Alpharetta, there’s a lot happening. With One Big Beautiful Bill (OBBB) now law, homeowners and real estate professionals have a few reasons to feel positive.
You may have different views on some parts of the bill or question its fiscal responsibility. However, OBBB is now law, and it offers many benefits for our North Atlanta real estate market. Major organizations like the National Association of Realtors (NAR), National Association of Homebuilders (NAHB), and Mortgage Bankers Association (MBA) backed this legislation. Their support shows its potential to impact our local real estate market.
Key Provisions That Matter to North Atlanta Homeowners
Permanent Tax Rate Extensions
The personal income tax rates from the 2017 Tax Cuts and Jobs Act will stay in place. For many clients, like tech workers in Alpharetta or healthcare professionals in Marietta, the highest marginal rate remains at 37%. The standard deduction is now $15,750 for singles and $31,500 for couples. Seniors also get an extra $6,000 through 2028.
Mortgage Interest Deduction Protection
This is a big win for homeowners in North Atlanta. The mortgage interest deduction is now permanently protected. In areas like East Cobb and Alpharetta, where median home prices often exceed $700,000, this deduction on mortgages up to $750,000 offers substantial savings.
Enhanced SALT Deductions
High-income households in North Atlanta stand to benefit the most here. The State and Local Tax (SALT) deduction has been temporarily raised from $10,000 to $40,000 for five years.
1031 Exchange Protection
Real estate investors in Cobb, Cherokee, and North Fulton can breathe easier. The 1031 "like-kind" exchange program is now permanently protected. This allows investors to defer capital gains taxes when selling properties, provided they buy equal or greater value properties within the required timeframe.
Small Business and Realtor Benefits
The qualified business income deduction allows small business owners and real estate agents to deduct up to 20% of their qualified business income. This change is now permanent. It offers lasting savings for many real estate professionals in our competitive market.
Trump Accounts for Future Homebuyers
Every child born between 2025-2028 will receive a $1,000 tax-deferred savings account. Parents can contribute up to $5,000 a year, tax-free. At 18, these accounts can support education or help with home down payments.
Low-Income Housing Tax Credit Enhancement
Expanding the Low-Income Housing Tax Credit program could help build more affordable homes. This change helps address housing supply issues while reducing reliance on government funds.
What This Means for Our Local Market
For homeowners in Cobb, Cherokee, North Fulton, and all of North Atlanta, these changes make owning a home more appealing. The permanence of many provisions gives long-term stability for planning finances. Whether you're moving from a townhome in Acworth to a single-family home in Milton or downsizing in Marietta, these changes help.
Looking Ahead: Additional Legislation to Watch
The No Tax on Home Sales Act (H.R. 4327) is worth noting. If passed, it would eliminate capital gains taxes on primary residence sales. This could save homeowners a lot of money. It may also boost listings, which could benefit buyers looking in North Atlanta.
The Bottom Line for North Atlanta
Whether you're a first-time buyer looking at condos in Smyrna or a family seeking space in Cherokee County, OBBB strengthens the case for owning real estate in North Atlanta.
We’re your local real estate experts, and we can help you see how these changes impact you. Our markets have always been full of opportunities. Now, the tax code makes it easier for you to succeed.
Interested in how these changes might benefit your real estate plans? Contact our team today to discuss your options in this evolving market.
