Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Submit News | Home RSS
 
 
 

In high-tax states, worries about pain from GOP tax plan

November 3, 2017
Associated Press

SOUTH ORANGE, N.J. (AP) — Homeowners in high-tax states like New Jersey are wondering whether the Republican bill that is being sold as a tax cut would actually result in higher bills for them.

That's because the legislation would end deductions for state and local sales and income taxes. And it would cap the property tax deduction at $10,000.

In New Jersey, even a modest house within commuting distance of New York City can carry property taxes of more than $15,000 a year.

Other states with high taxes include New York, Massachusetts and California.

 
 
 

 

I am looking for:
in:
News, Blogs & Events Web