However, the income tax allows deductions for property tax and interest, which then lowers your tax rate.
Doesn't matter mom. The CBO figures for effective income tax rates have already taken that into account. And something like only 1/3 of taxpayers take advantage of any such mortgage interest deductions; that means most DON'T - and these are typically in he $50,000 per year and under income level - they're already accounted for by the CBO effective tax rates.</p>