Tax Package Narrowly Fails On House Floor On Last Day Of 2018 Session

The Kansas Legislature has adjourned for the 2018 legislative session after narrowly failing to pass a large tax package on the House floor.  Senate Substitute for HB 2228 failed 59-59 (needed 63 votes) on the House floor on Friday, May 4th, after … [Read more...]

Background Briefing on Kansas Itemized Deductions

The Kansas Association of REALTORS® (KAR) strongly supports legislation which would allow Kansas income tax filers to take advantage of Kansas itemized deductions regardless of whether they itemize or take the standard deduction on their federal … [Read more...]

Itemized Tax Deductions Pass the Senate

In March 2018, KAR conveyed the potential issue around preserving Itemized Tax Deductions in Kansas. This update, as of April 7, confirms that the Senate passed a bill that includes itemized deductions starting in tax year 2018 and thereafter. Under … [Read more...]

Preserving Itemized Tax Deductions in Kansas

Under current Kansas law, Kansas income tax filers may only itemized deductions on state tax filings if they itemize on their federal return. Due to the doubling of the federal standard deduction, very few Kansas taxpayers will benefit from the … [Read more...]

Rebates in Real Estate Transactions

Legislation before the Kansas Legislature would legalize rebates in Kansas real estate transactions.  HB 2494 would modify provisions in Kansas license law to make rebates legal, as long as they are disclosed.  The Kansas Association of REALTORS® is … [Read more...]

Final Update for 2017 Legislative Session

Overall, Kansas REALTORS® fared well during the 2017 legislative session. The Mortgage Interest Deduction and Property Tax Deduction are on a path to 100% restoration by 2020. We joined with homebuilders to maintain a tax exemption on … [Read more...]

KAR Supported Provision Restores Mortgage Interest and Property Tax Deductions to 100%

Last week the State Legislature overrode Governor Brownback’s veto to pass a new tax bill (SB 30). Within the tax package, KAR obtained provisions that would phase-in restoration of the MID and PTD, a significant win for Kansas REALTORS® and property … [Read more...]

From A Member Perspective: NAR Legislative Meetings

“Listening to the likes of HUD Secretary Ben Carson, Director of FEMA's Flood Insurance program, Roy Wright, several top economists and numerous experts from NAR on different topics, I had no idea how much I didn't know about what's going on in the … [Read more...]

Capitol Report – Latest Update on KAR Issues From the 2017 “Regular Session”

Three major issues – the Kansas state budget, school finance, and tax policy, are still unresolved. Lawmakers will return on May 1 to meet on these major issues during the “Veto Session.” Here’s how KAR continues to protect Kansas REALTORS® and … [Read more...]

An Estimated 850,000 Homebuyers Affected by Suspension of FHA Mortgage Rate Reduction. Here’s What You Need to Know:

A summary from a letter from the National Association of REALTORS®; click here to read the full letter from NAR to Dr. Ben Carson, Housing and Urban Development Secretary Designate. Background Trump administration has suspended the Federal … [Read more...]

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