[poinq]

There are lots of houses in blue states that are priced high enough that the new tax law will cause the owners to pay tens of thousands of dollars more for federal income taxes. If your home has property taxes over $10,000 you will pay more federal taxes. So if you have a cheap home, or you rent, you are better off. If you are very rich you don’t care. But if you have a home with taxes that are high enough, you will be paying a lot more every year. And those homes are not selling as well.

[DIRTYSECRET]

I’l just rent out my fixer rather than sell. Solar panels will be required on new 2020 construction in Calif so I gotta build that 2nd unit.

[CurlyDave]

There are lots of houses in blue states that are priced high enough that the new tax law will cause the owners to pay tens of thousands of dollars more for federal income taxes. If your home has property taxes over $10,000 you will pay more federal taxes. So if you have a cheap home, or you rent, you are better off. If you are very rich you don’t care. But if you have a home with taxes that are high enough, you will be paying a lot more every year. And those homes are not selling as well.

There is a strange perversity in the tax law.

As a landlord, my property taxes are 100% deductible as a business expense. The long-term result of this will be to turn the US into a nation of renters.

IMHO renters are ripe for a socialist takeover, owners not so much...

[Elsie]

If your home has property taxes over $10,000 you will pay more federal taxes.

I guess I should remain silent about my exorbitant $1,700 yearly property tax that I have to pay on my 10+ acres and 2,400 house.