Financial Focus: Will New Tax Plan Prevent Home Ownership?
So is it really true? Will the new tax bill that put caps on mortgage interest and property taxes stop people from buying a home? Will it prevent them from receiving numerous tax deductions? Well, according to the IRS, the caps on these areas will only affect four percent of the nation. Now, while I’m sure, many (including me) question this number, their next projection might be more accurate: In high state areas like New York this will effect over 60 percent of home ownership. “Capping” deductible areas like mortgage interest and property taxes are designed to shift you from being
