The National Association of Realtors, after reviewing proposed federal tax reform proposals, has projected impacts on home prices on a state-by-state basis.

According to the NAR,, “Of the approximately 2,269,000 owner-occupied houses in Georgia in 2016, 65% had a mortgage. 7.9% of the housing units with a mortgage had a value higher than $500,000 while 1.3% of the owners paid over $10,000 for real estate taxes. Vacation homes accounted for 2.3% of the housing units in Georgia.”  Based on the projected changes to the capital gains structure, as well as limiting the ability to deduct real estate taxes, NAR is projecting an overall decrease in home value of 10%-15%, which, in Georgia, works out to between $18,500 and $27,750 for the average homeowner, assuming that the proposed changes become law.

The projected decrease was focused on primary residences, rather than investments and vacation homes, which will be impacted by tax changes as well, but under different provisions.