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Philly to increase homestead exemption to $45,000
The Suburban REALTORS® Alliance was founded upon the principle that active involvement in the political and legislative arena is an inherent responsibility of all citizens and industry. Further, our shareholders recognize that the collective strength of over 10,000 REALTORS®, working in unison, is far more effective than the efforts of a single individual or organization.
Our common objective is to educate government officials about the impact of public policy decisions on the real estate industry, purchasers and sellers of real property, and the rights of real property owners.
To support the development and enactment of real estate friendly legislation, the REALTOR® organization regularly communicates with public officials and evaluates their voting records on REALTOR® issues. In part, this evaluation process serves as a guide for making financial contributions to candidates through the REALTORS® Political Action Committee (RPAC).
RPAC is a standing committee of the National Association of REALTORS® and the Pennsylvania Association of REALTORS® involved in providing funding for political candidates at the national and state level. In 1998, the Suburban REALTORS® Alliance formed the Southeast REALTORS® PAC (SERPAC), working in conjunction with RPAC, to support candidates at the local level.
The goal of RPAC and SERPAC is to establish the real estate industry as a concerned and involved constituency that gives active support to political candidates who recognize the needs of REALTORS® and property owners. REALTORS® are non-partisan in their selection of candidates, choosing to look at individual candidates' programs and platforms, rather than political party, in determining who to support.
As a result of REALTOR® efforts to elect pro-real estate representatives, we have witnessed the enactment of several laws which support owners and purchasers of real property. Legislation providing tax benefits for homeowners, such as the Mortgage Interest Deduction and capital gains exclusion for the sale of a primary residence, to disclosure statutes which protect consumers all have been implemented. For more information on RPAC, visit the Realtor Party website.
In addition, we continue to work with legislators explaining the negative impacts of real estate transfer taxes, mandatory inspections, and other point of sale requirements which present an unfair burden to sellers of real estate.