Tax deferral can make homeownership more affordable.

There is a quick and easy way to make buying a home more affordable, encourage builders to construct more affordable housing, and even produce more revenue for state and local coffers. All of this can be accomplished by allowing the payment of certain taxes affecting the sale and purchase of a new home to be deferred until the home is resold or refinanced.

This “tax deferral tax deferral

The delay of a tax liability until a future date. For example, an IRA may result in a tax deferral on the amount contributed to the IRA and on any income earned on funds in the IRA until withdrawals are made.