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Property Tax Deduction reform bill.

Posted Nov 08, 2017

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The property tax deduction will remain in the U.S. House tax reform bill. Ways and Means Committee Chairman Kevin Brady (R-TX) said a deduction for some local taxes will remain in the soon-to-be-released tax bill. “We are restoring an itemized property tax deduction to help taxpayers with local tax burdens,” he stated. Republicans had proposed eliminating the federal deduction for state and local taxes (SALT). Analysts say that doing away with the SALT deduction would hit upper-middle-class families in high-income-tax states.

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