Real estate experts say the proposed federal limits on property tax and mortgage interest deductions would have very little effect in Wisconsin. Marquette professor David Clark says home prices in the Badger State are generally less than the East and West coasts. As a result, Clark and others say only a relative few Wisconsin homeowners would be affected by what the House G-O-P proposed Thursday in its tax overhaul package — a ten-thousand dollar cap on the property tax deduction, and limiting home mortgage deductions to loans of 500-thousand dollars or less. Wisconsin Realtors say their average home purchase price statewide was 175-thousand dollars in September. A national group says only eight-tenths-of-one-percent of Wisconsin mortgages are above 500-thousand, while a quarter of the loans in Hawaii and Washington D-C are above that.
GOP Limits On Home Tax Deductions Have Little Impact In State
Nov 3, 2017 | 10:27 AM
State News