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Tax Reform: Here‘s What Could Impact Homeowners Most |
By Liz Dominguez |
A new year has started, and with it a newly enacted tax policy: the Tax Cuts and Jobs Act. While most changes will not be noticeable until consumers file their taxes in 2019, the new tax law stands to alter how consumers view homeownership incentives and could impact real estate markets across the country. Additionally, many consumers, but not all, may see a change to their paychecks by next month due to the new tax rate deductions. These are the biggest real estate-related tax policies and how they could affect homeowners. 1. Cap on Mortgage Interest Deduction: The Tax Cuts and Jobs Act reduced the limit for the mortgage interest rate deduction for new loans starting ...
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