SALT and mortgage deductions
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@george-k said in SALT and mortgage deductions:
@jolly taxes are $8900???
DaFuq?
I read that as taxes were $1036, the assessed value was $8900...
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It’s really a bank subsidy.
The older folks here will remember when all interest was deductible here, even credit card and auto. It was a big banking subsidy.
It’s not even a subsidy for homeownership, it’s a subsidy for “home borrowership”.
@jon-nyc said in SALT and mortgage deductions:
It’s really a bank subsidy.
The older folks here will remember when all interest was deductible here, even credit card and auto. It was a big banking subsidy.
It’s not even a subsidy for homeownership, it’s a subsidy for “home borrowership”.
Never thought of it that way. Makes sense though.
As if the banking sector needs subsidies.
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The Trump standard deduction came just in time for us, as we get close to paying off our house. I think the highest itemized deductions we ever hit were $23-24k. I think the year before the new standard deduction we had dropped to about $19k.
Our 2600 sq foot house, built in 2004, is worth maybe about $425,000. I thought I was rightfully grousing about our property tax bill, which still is less than $5k. You do need to remember we do not pay sales tax in Oregon, so that helps, but they just instituted a vehicle tax for purchases. Used to be that you would pay about $150 to license your new car. Now it is about $500 for a $20,000 car.
