New York Homeowners Could Save Thousands Thanks to New SALT Deduction Changes
New York homeowners have long felt the sting of the federal $10,000 cap on state and local tax (SALT) deductions.
But that tide is turning. With a new cap set at $40,000, many homeowners in the Empire State stand to benefit in a big way.
Big Numbers, Big Impact: Who Benefits Most
“Residents of high-tax states suffered the most with the previous cap on state and local taxes (SALT),” says Colin Allen, executive director of the American Property Owners Alliance. “Because their taxes far exceeded the cap, they were not able to deduct the full amount like residents in low-tax states”.
About the American Property Owners Alliance
The American Property Owners Alliance (The Alliance) is a nonpartisan, non-profit organization created to protect and support property owners and pave the way for future property owners. Our mission is to educate property owners about federal issues, laws and policies; to advocate for owners’ rights and interests; and to mobilize, when necessary, to secure those rights and interests.Sign up for updates and we’ll keep you informed on policy changes that impact your investment.
Click Here