Together with our legislative partners, Mississippi REALTORS
helped to get the First-time Homebuyer Savings Account that offers tax advantages get pushed through!
Individuals in Mississippi can now create monetary savings accounts for down payments or other expenses related to the purchase of a first home, and will be able to deduct $2,500 from state adjusted gross income annually; couples filing jointly can deduct up to $5,000. Interest earned on the account is also exempt from state income tax and there is no cap on the amount that can be saved.
Get up to speed, tell everyone you know, share it on social media, and tell your clients and bankers. To learn more, visit the
REALTOR Action Center