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Board backs federal changes to capital‑gains exclusions to free up housing stock
Summary
The Board supported a letter urging Congress to raise federal capital‑gains exclusions on owner‑occupied home sales (aligning with HR 1340/HR 4327 concepts), accepting a friendly amendment to limit support to owner‑occupied exclusions; the motion passed unanimously after public comment from homeowners and housing advocates.
Supervisor Desmond introduced a board letter urging federal reform to capital‑gains exclusions on sales of owner‑occupied homes to reduce barriers to turnover and increase housing supply. The item noted that the exclusion caps in current U.S. tax law are decades out of date and that many homeowners feel "locked in" by the potential tax liability when they…
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