Tax Law Keeps Most Real Estate Interest & Property Tax Deductions

Tax Law Keeps Most Real Estate Interest & Property Tax Deductions

Everyone is wondering how the new tax law that was signed yesterday will affect them personally and specifically on real estate. It's still early in the tax plan analysis, but CNBC has this analysis:
-Mortgage Interest Deductions will be capped at $750,000
-However, 94% of homeowners have mortgages below $750,000
-Property tax deduction will be capped at $10,000
-However, only 5% of homeowners pay more than $10,000 in property tax

Next week I'll have more information for you on this subject. In the meantime, to see the CNBC video, scroll down and click on "Read More"

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Also….check these out??

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