Could You Soon Sell Your Home Tax-Free? What to Know About the New Proposal What’s Going On

🏡 Could You Soon Sell Your Home Tax-Free? What to Know About the New Proposal What’s Going On

From the Oval Office, President Donald Trump previously floated the idea of removing capital gains taxes on home sales — a move he said could “unleash” the housing market.

“We’re thinking about that… It would also unleash it just by lowering the interest rates. If the Fed would lower the rates, we wouldn’t even have to do that. But we are thinking about no tax on capital gains on houses,” Trump told reporters at the time.

The comment echoed a prior statement where he described the tax cut as “a very big positive” and “a great incentive for a lot of people that really need money.”

About the No Tax on Home Sales Act

Trump was referencing the No Tax on Home Sales Act, introduced on July 10 by Rep. Marjorie Taylor Greene. The bill proposes eliminating federal capital gains taxes on the sale of primary residences, providing full tax relief to homeowners—especially those who’ve owned their homes for decades and seen significant appreciation.

Under the current law, individuals can exclude up to $250,000 in capital gains from the sale of their primary home ($500,000 for joint filers), but those figures haven’t changed since 1997. Adjusted for inflation, the caps would be closer to $660,000 and $1.32 million, according to University of Illinois Chicago research.

Greene says the bill is designed to “unlock equity, help fix the housing shortage, and support long-term financial security for American families.”

While the bill doesn’t apply to investors or house flippers, if passed, it could increase homeowner mobility, boost housing inventory, and further fuel conversations around affordability as housing remains a hot-button issue.

👉 Want to see how this could affect your home’s value or future plans? Reach out today—I’m happy to help you strategize.