Big news for homeowners and future buyers: starting in tax year 2025, the state and local tax (SALT) deduction cap has been raised from $10,000 to $40,000 for many taxpayers. This expanded deduction applies for up to four years under current law, creating new savings opportunities for those with significant property tax expenses. With itemized deductions becoming more valuable again, this change could improve affordability for buyers and boost the appeal of higher-tax areas for sellers.
See the full story from the National Association of REALTORS® by Clicking Here.
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