H.R.3953 - Federal Government - To amend the Internal Revenue Code of 1986 to allow the deduction for property taxes in determining the amount of the alternative minimum taxable income of any taxpayer (other than a corporation).

Homeowners Property Tax Relief Act of 2007 - Amends the Internal Revenue Code to allow the deduction of state and local real and personal property taxes in calculating the alternative minimum taxable income of individual taxpayers.