Homeowners Premium Tax Reduction Act of 2025

House Votes

This bill would let homeowners lower their taxable income by the amount they pay for homeowners insurance on their main home, up to $10,000 a year. In simple terms, you could subtract as much as $10,000 of your annual homeowners insurance premiums from your income when you file your taxes, which could reduce the taxes you owe. It applies only to the insurance for your principal residence, not second homes or rentals (as defined in the tax code) .

Key points:

• Who: Individuals with homeowners insurance on their main home .
• What: A new deduction against gross income for annual premiums, capped at $10,000 .
• Where it applies: Your principal residence only .
• When: The text provided does not specify an effective date .