{"id":82229,"date":"2025-09-18T05:30:08","date_gmt":"2025-09-18T12:30:08","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=82229"},"modified":"2025-09-17T17:12:03","modified_gmt":"2025-09-18T00:12:03","slug":"salt-cap-increase-analysis","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/salt-cap-increase-analysis\/","title":{"rendered":"Homeowners in New York, California and Other Coastal States Could Shave Thousands Off Their Annual Tax Bill with SALT Cap Increase"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">The typical New York household impacted by the raised SALT cap will save $7,092\u00a0 annually\u2014the most of any state.\u00a0<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">86% of Massachusetts homeowner households could benefit from the increased SALT cap\u2014the highest share of any state. In comparison, only 1% of households in Tennessee and Nevada are expected to benefit.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">States with high home values will generally benefit more than states with lower home values, but it\u2019s not always the case, as every state has very different tax environments.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Of the top 100 U.S. metros, New York\u2019s Nassau County has the highest share of households who could benefit from the rule changes (96.1%) and the highest expected savings for impacted households ($7,200).<\/span><\/i><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The typical New York homeowner impacted by the raised state and local tax (SALT) deduction cap could save more than $7,000 a year\u2014the highest of any state.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But the share of homeowners who benefit from the SALT cap increasing from $10,000 to $40,000\u2014and how much they save\u2014varies widely across the country. In some states, like Massachusetts, almost every homeowner could benefit, while in others, like Tennessee, only a small fraction are likely to be impacted.<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-vw45w\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Estimated Savings for Homeowners Who Benefit From Increased SALT Deduction Cap\" src=\"https:\/\/datawrapper.dwcdn.net\/vw45w\/1\/\" height=\"589\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Column Chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}})}();\n<\/script><\/p>\n<p><span style=\"font-weight: 400;\">This is according to a Redfin analysis which estimates the share of homeowner households (referred to as <\/span><i><span style=\"font-weight: 400;\">homeowners <\/span><\/i><span style=\"font-weight: 400;\">throughout the report) who could benefit from the increased SALT deduction cap\u2014and their potential savings. The raised SALT deduction cap was <\/span><a href=\"https:\/\/www.cnbc.com\/2025\/09\/05\/salt-deduction-effect-homeowners-national-debt.html\"><span style=\"font-weight: 400;\">introduced<\/span><\/a><span style=\"font-weight: 400;\"> as part of President Trump\u2019s \u201cOne Big Beautiful Bill Act.\u201d It allows homeowners who itemize their tax breaks to deduct up to $40,000 from their federal taxes for state and local income taxes, property taxes and sales taxes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Using local tax revenue, home value and income data, this analysis projects how much typical homeowners could expect to deduct if they itemize their deductions. In the report we project the share of homeowners who <\/span><i><span style=\"font-weight: 400;\">could<\/span><\/i><span style=\"font-weight: 400;\"> benefit from the SALT cap increase. It&#8217;s important to note that the share of households who are <\/span><i><span style=\"font-weight: 400;\">likely <\/span><\/i><span style=\"font-weight: 400;\">to itemize their taxes will be smaller, as many homeowners will continue to take the standard deduction. See the detailed methodology at the end of the report for more details.<\/span><\/p>\n<h3><b>The typical New York homeowner impacted by the new cap will save $7,092 annually\u2014the most of any state<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The typical New York homeowner impacted by the increased SALT cap will save $7,092 annually. We estimate savings by first calculating how much the typical impacted homeowner could deduct under the new SALT rules, then applying a 24% marginal tax rate to the portion that exceeds the previous $10,000 cap.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"3\"><b>Top 5 States With Highest Estimated Savings From New SALT Cap<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">Note: Assumes a 24% marginal tax rate on the amount above the old cap of $10,000<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><b>State<\/b><\/p>\n<\/td>\n<td style=\"text-align: center;\"><b>Median SALT Savings<\/b><\/td>\n<td style=\"text-align: center;\"><b>Median SALT Deduction<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">New York<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$7,092<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$39,549<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">California<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$3,995<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$26,646<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">New Jersey<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$3,897<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$26,238<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Massachusetts<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$3,835<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$25,979<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Connecticut<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$3,133<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$23,053<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">California homeowner households impacted by the new cap will save the second-highest amount each year ($3,995), followed by New Jersey ($3,897), Massachusetts ($3,835) and Connecticut ($3,133).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Redfin Senior Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/asad-khan\/\"><span style=\"font-weight: 400;\">Asad Khan<\/span><\/a><span style=\"font-weight: 400;\"> said even though the savings are considerable, SALT changes are unlikely to push home prices up in most states, because relatively few <\/span><i><span style=\"font-weight: 400;\">homebuyers <\/span><\/i><span style=\"font-weight: 400;\">would be impacted by the increased cap. But in markets where a high share of homeowner households are affected\u2014and the expected savings are high\u2014there is more potential for prices to be affected.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cHomebuyers in states like Illinois, where the potential tax savings are high relative to home prices, may look at the new SALT cap as an opportunity to increase their homebuying budget,\u201d he said. \u201cTheoretically, that could lead to an increase in demand, and higher prices.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The typical homeowner household impacted by the new cap in South Dakota will save $1,033 per year\u2014the lowest of any state.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"3\"><b>Top 5 States With Lowest Estimated Savings From New SALT Cap<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">Note: Assumes a 24% marginal tax rate on the amount above the old cap of $10,000<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><b>State<\/b><\/p>\n<\/td>\n<td style=\"text-align: center;\"><b>Median SALT Savings<\/b><\/td>\n<td style=\"text-align: center;\"><b>Median SALT Deduction<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">South Dakota<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,033<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$14,306<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Alaska<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,052<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$14,382<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Nevada<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,090<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$14,540<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Tennessee<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,097<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$14,572<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">New Hampshire<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,101<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$14,590<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Alaska homeowner households impacted by the new cap will save the second-lowest amount each year ($1,052), followed by Nevada ($1,090), Tennessee ($1,097) and New Hampshire ($1,101).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Khan said the five lowest states do not have a state income tax, meaning homeowner households are less likely to cross the old $10,000 SALT deduction cap.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cFor households in these states, the only real way to benefit is if their home is valuable enough for property taxes to exceed $10,000,\u201d he said. \u201cEven then, the savings are relatively small, since many of these owners are just barely over the old limit.\u201d<\/span><\/p>\n<h3><b>Massachusetts has the highest share of homeowners who could benefit from raised SALT cap<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">More than eight in 10 (85.5%) Massachusetts homeowners stand to benefit from the new tax rules if they choose to itemize their deductions\u2014meaning they could deduct more than $10,000 (the old cap) in combined property, and state and local income taxes. That\u2019s the highest share of any U.S. state.<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-zy2jE\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Share of Homeowner Households Who Could Benefit From Increased SALT Deduction Cap\" src=\"https:\/\/datawrapper.dwcdn.net\/zy2jE\/2\/\" height=\"573\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Stacked column chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}})}();\n<\/script><\/p>\n<p><span style=\"font-weight: 400;\">The next highest shares are in New Jersey (84.2%), Oregon (79.8%), New York (75.8%) and California (74.3%). These states share one thing in common: expensive homes. All five are among the 10 states with the highest median home values.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"4\"><b>Top 5 States With Highest Share of Homeowner Households Who Stand to Benefit From Increased SALT Cap<\/b><\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><b>State<\/b><\/p>\n<\/td>\n<td style=\"text-align: center;\"><b>Share of Homeowner Households to Benefit<\/b><\/td>\n<td style=\"text-align: center;\"><b>Median Home Value (Census data)<\/b><\/td>\n<td style=\"text-align: center;\"><b>Median Property Tax Rate<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Massachusetts<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">85.5%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$525,800<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">1.11%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">New Jersey<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">84.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$427,600<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">2.23%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Oregon<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">79.8%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$454,200<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.83%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">New York<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">75.8%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$403,000<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1.60%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">California<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">74.3%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$695,400<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.71%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h4><b>Not all states with high home values will benefit equally from the tax changes<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">It\u2019s worth noting, however, that not all states with high home values will benefit as significantly from the tax rule changes.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, Washington has the fifth-highest median home value of all states, yet only 9.6% of homeowners stand to benefit from the increased cap. That\u2019s because Washington has no state income tax, and its median property tax rate is a relatively low 0.84%. In Colorado, which has the sixth-highest median home value of all states, a low median property tax rate of 0.49% means only 15.3% of homeowners stand to benefit from the new rules.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Redfin\u2019s Khan said reports on the cap increase have largely focused on homeowners in states with the highest home values\u2014and therefore the highest property taxes. But he noted that a more substantial share of households stand to gain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWest Virginia has the lowest median home value in the country, but nearly a third of homeowners there could benefit from the new cap,\u201d he said. \u201cBenefits vary so widely because the mix of home values, property taxes, and income taxes looks very different depending on where you live. In states with both high home values and high taxes, most homeowners are now able to deduct more than they could under the old $10,000 cap. In lower-tax states\u2014or states with no income tax\u2014the impact is smaller, even for people with expensive homes.\u201d<\/span><\/p>\n<h3><b>Only 1% of homeowner households in Tennessee and Nevada stand to benefit from new cap<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Highlighting the extreme variability among states, only 1% of homeowners in Tennessee stand to benefit from the increased SALT cap\u2014the lowest of any state.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"4\"><b>Top 5 States With Lowest Share of Homeowners Who Stand to Benefit From Increased SALT Cap<\/b><\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><b>State<\/b><\/p>\n<\/td>\n<td style=\"text-align: center;\"><b>Share of Homeowner Households to Benefit<\/b><\/td>\n<td style=\"text-align: center;\"><b>Median Home Value (Census data)<\/b><\/td>\n<td style=\"text-align: center;\"><b>Median Property Tax Rate<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Tennessee<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$256,800<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.55%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Nevada<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$406,100<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.49%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Wyoming<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">2.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$285,100<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.58%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">South Dakota<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">2.8%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$236,800<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1.09%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Alaska\u00a0<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">3.3%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$333,300<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">1.14%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">The next lowest shares are in Nevada (1.2%), Wyoming (2.2%), South Dakota (2.8%) and Alaska (3.3%). The common thread between the bottom five states is the lack of a state income tax, while Tennessee, Nevada and Wyoming also have among the lowest median property taxes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Khan noted that the share of homeowners who could benefit from the new cap may be considerably higher in some states due to the impact of state and local sales taxes, which are not accounted for in this analysis.\u00a0<\/span><\/p>\n<h3><b>The typical Nassau County, NY homeowner impacted by the new cap will save $7,200\u00a0 annually\u2014highest among U.S. metros<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The typical Nassau County, NY homeowner impacted by the increased SALT cap will save $7,200 annually\u2014the most in any of the top 100 U.S. metro areas and the highest savings possible, as it represents the maximum deduction of $40,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Next came San Francisco ($6,843), San Jose ($6,661), New York ($5,473) and Oakland ($5,455).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Khan said while many coastal metros have a high share of impacted homeowners, the potential tax savings are small relative to home values. In contrast, homeowners in Midwest metros like Cleveland, Indianapolis, Chicago and Pittsburgh are expected to see much bigger returns, relative to home prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In comparison, the typical homeowner impacted by the new cap in Knoxville, TN will save $777 per year\u2014lowest among the top 100 metros.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nashville homeowners impacted by the new cap will save the second-lowest amount each year ($1,017), followed by Little Rock, AR ($1,199), Las Vegas ($1,224) and Virginia Beach, VA ($1,345).<\/span><\/p>\n<h3><b>Nassau County has the highest share of homeowners who will benefit from the new SALT cap among U.S. metros<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Nearly all (96.1%) of homeowner households in Nassau County stand to benefit from the increased SALT cap if they itemize their deductions\u2014the highest share among the top 100 U.S. metro areas.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Next came California\u2019s Bay Area metros\u2014San Francisco (94.9%), Oakland (93.5%) and San Jose (92.5%)\u2014followed by Elgin, IL (89.6%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the other end of the spectrum, only 0.6% of homeowner households in Knoxville, TN are expected to benefit from the increased SALT cap\u2014the lowest share among the top 100 metro areas.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Next came Lakeland, FL (0.8%), Las Vegas (0.9%), McAllen, TX (1.4%) and Nashville, TN (2.1%)\u2014all metros in states with no income tax.<\/span><\/p>\n<h4><b>State Table: Projected Impact of Raised SALT Cap<\/b><\/h4>\n\n<table id=\"tablepress-481\" class=\"tablepress tablepress-id-481\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>State<\/strong><\/th><th class=\"column-2\"><strong>% Homeowners Who Could Benefit From Raised SALT Cap<\/strong><\/th><th class=\"column-3\"><strong>Median Savings if Impacted Homeowner Itemizes SALT Deductions<\/strong><\/th><th class=\"column-4\"><strong>Median SALT Deductions if Impacted Homeowner Itemizes Deductions<\/strong><\/th><th class=\"column-5\"><strong>Median Home Value (2023 Census ACS)<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Alabama<\/td><td class=\"column-2\">11.9%<\/td><td class=\"column-3\">$1,823<\/td><td class=\"column-4\">$17,596<\/td><td class=\"column-5\">$195,100<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Alaska<\/td><td class=\"column-2\">3.3%<\/td><td class=\"column-3\">$1,052<\/td><td class=\"column-4\">$14,382<\/td><td class=\"column-5\">$333,300<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Arizona<\/td><td class=\"column-2\">18.7%<\/td><td class=\"column-3\">$1,592<\/td><td class=\"column-4\">$16,635<\/td><td class=\"column-5\">$358,900<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Arkansas<\/td><td class=\"column-2\">4.7%<\/td><td class=\"column-3\">$1,668<\/td><td class=\"column-4\">$16,950<\/td><td class=\"column-5\">$175,300<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">California<\/td><td class=\"column-2\">74.3%<\/td><td class=\"column-3\">$3,995<\/td><td class=\"column-4\">$26,646<\/td><td class=\"column-5\">$695,400<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Colorado<\/td><td class=\"column-2\">15.3%<\/td><td class=\"column-3\">$1,590<\/td><td class=\"column-4\">$16,625<\/td><td class=\"column-5\">$502,200<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Connecticut<\/td><td class=\"column-2\">65.1%<\/td><td class=\"column-3\">$3,133<\/td><td class=\"column-4\">$23,053<\/td><td class=\"column-5\">$343,200<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Delaware<\/td><td class=\"column-2\">45.0%<\/td><td class=\"column-3\">$1,454<\/td><td class=\"column-4\">$16,060<\/td><td class=\"column-5\">$326,800<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">District of Columbia<\/td><td class=\"column-2\">97.9%<\/td><td class=\"column-3\">$7,200<\/td><td class=\"column-4\">$40,000<\/td><td class=\"column-5\">$724,600<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Florida<\/td><td class=\"column-2\">3.7%<\/td><td class=\"column-3\">$2,309<\/td><td class=\"column-4\">$19,620<\/td><td class=\"column-5\">$325,000<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Georgia<\/td><td class=\"column-2\">35.9%<\/td><td class=\"column-3\">$1,744<\/td><td class=\"column-4\">$17,265<\/td><td class=\"column-5\">$272,900<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Hawaii<\/td><td class=\"column-2\">65.6%<\/td><td class=\"column-3\">$2,143<\/td><td class=\"column-4\">$18,927<\/td><td class=\"column-5\">$808,200<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Idaho<\/td><td class=\"column-2\">20.7%<\/td><td class=\"column-3\">$1,748<\/td><td class=\"column-4\">$17,282<\/td><td class=\"column-5\">$376,000<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Illinois<\/td><td class=\"column-2\">65.7%<\/td><td class=\"column-3\">$2,817<\/td><td class=\"column-4\">$21,738<\/td><td class=\"column-5\">$250,500<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Indiana<\/td><td class=\"column-2\">43.1%<\/td><td class=\"column-3\">$1,927<\/td><td class=\"column-4\">$18,028<\/td><td class=\"column-5\">$201,600<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Iowa<\/td><td class=\"column-2\">42.1%<\/td><td class=\"column-3\">$2,093<\/td><td class=\"column-4\">$18,720<\/td><td class=\"column-5\">$195,900<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Kansas<\/td><td class=\"column-2\">44.7%<\/td><td class=\"column-3\">$2,443<\/td><td class=\"column-4\">$20,178<\/td><td class=\"column-5\">$203,400<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Kentucky<\/td><td class=\"column-2\">41.0%<\/td><td class=\"column-3\">$2,198<\/td><td class=\"column-4\">$19,160<\/td><td class=\"column-5\">$192,300<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Louisiana<\/td><td class=\"column-2\">20.7%<\/td><td class=\"column-3\">$1,473<\/td><td class=\"column-4\">$16,137<\/td><td class=\"column-5\">$208,700<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Maine<\/td><td class=\"column-2\">48.0%<\/td><td class=\"column-3\">$2,422<\/td><td class=\"column-4\">$20,091<\/td><td class=\"column-5\">$266,400<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">Maryland<\/td><td class=\"column-2\">59.4%<\/td><td class=\"column-3\">$2,587<\/td><td class=\"column-4\">$20,781<\/td><td class=\"column-5\">$397,700<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">Massachusetts<\/td><td class=\"column-2\">85.5%<\/td><td class=\"column-3\">$3,835<\/td><td class=\"column-4\">$25,979<\/td><td class=\"column-5\">$525,800<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Michigan<\/td><td class=\"column-2\">23.7%<\/td><td class=\"column-3\">$1,717<\/td><td class=\"column-4\">$17,153<\/td><td class=\"column-5\">$217,600<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Minnesota<\/td><td class=\"column-2\">57.8%<\/td><td class=\"column-3\">$2,156<\/td><td class=\"column-4\">$18,983<\/td><td class=\"column-5\">$305,500<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">Mississippi<\/td><td class=\"column-2\">22.4%<\/td><td class=\"column-3\">$1,656<\/td><td class=\"column-4\">$16,898<\/td><td class=\"column-5\">$161,400<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Missouri<\/td><td class=\"column-2\">23.2%<\/td><td class=\"column-3\">$1,562<\/td><td class=\"column-4\">$16,510<\/td><td class=\"column-5\">$215,600<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Montana<\/td><td class=\"column-2\">48.0%<\/td><td class=\"column-3\">$2,492<\/td><td class=\"column-4\">$20,385<\/td><td class=\"column-5\">$338,100<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">Nebraska<\/td><td class=\"column-2\">49.6%<\/td><td class=\"column-3\">$1,801<\/td><td class=\"column-4\">$17,503<\/td><td class=\"column-5\">$223,800<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">Nevada<\/td><td class=\"column-2\">1.2%<\/td><td class=\"column-3\">$1,090<\/td><td class=\"column-4\">$14,540<\/td><td class=\"column-5\">$406,100<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">New Hampshire<\/td><td class=\"column-2\">16.9%<\/td><td class=\"column-3\">$1,101<\/td><td class=\"column-4\">$14,590<\/td><td class=\"column-5\">$367,200<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">New Jersey<\/td><td class=\"column-2\">84.2%<\/td><td class=\"column-3\">$3,897<\/td><td class=\"column-4\">$26,238<\/td><td class=\"column-5\">$427,600<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">New Mexico<\/td><td class=\"column-2\">27.0%<\/td><td class=\"column-3\">$1,857<\/td><td class=\"column-4\">$17,739<\/td><td class=\"column-5\">$232,200<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">New York<\/td><td class=\"column-2\">75.8%<\/td><td class=\"column-3\">$7,092<\/td><td class=\"column-4\">$39,549<\/td><td class=\"column-5\">$403,000<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">North Carolina<\/td><td class=\"column-2\">21.5%<\/td><td class=\"column-3\">$1,749<\/td><td class=\"column-4\">$17,287<\/td><td class=\"column-5\">$259,400<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">North Dakota<\/td><td class=\"column-2\">41.2%<\/td><td class=\"column-3\">$2,020<\/td><td class=\"column-4\">$18,415<\/td><td class=\"column-5\">$241,100<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">Ohio<\/td><td class=\"column-2\">43.0%<\/td><td class=\"column-3\">$1,999<\/td><td class=\"column-4\">$18,330<\/td><td class=\"column-5\">$199,200<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">Oklahoma<\/td><td class=\"column-2\">17.3%<\/td><td class=\"column-3\">$1,786<\/td><td class=\"column-4\">$17,443<\/td><td class=\"column-5\">$185,900<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">Oregon<\/td><td class=\"column-2\">79.8%<\/td><td class=\"column-3\">$2,737<\/td><td class=\"column-4\">$21,406<\/td><td class=\"column-5\">$454,200<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">Pennsylvania<\/td><td class=\"column-2\">54.1%<\/td><td class=\"column-3\">$2,575<\/td><td class=\"column-4\">$20,730<\/td><td class=\"column-5\">$240,500<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">Rhode Island<\/td><td class=\"column-2\">54.8%<\/td><td class=\"column-3\">$1,762<\/td><td class=\"column-4\">$17,342<\/td><td class=\"column-5\">$368,800<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">South Carolina<\/td><td class=\"column-2\">10.0%<\/td><td class=\"column-3\">$2,093<\/td><td class=\"column-4\">$18,723<\/td><td class=\"column-5\">$236,700<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">South Dakota<\/td><td class=\"column-2\">2.8%<\/td><td class=\"column-3\">$1,033<\/td><td class=\"column-4\">$14,306<\/td><td class=\"column-5\">$236,800<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">Tennessee<\/td><td class=\"column-2\">1.0%<\/td><td class=\"column-3\">$1,097<\/td><td class=\"column-4\">$14,572<\/td><td class=\"column-5\">$256,800<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">Texas<\/td><td class=\"column-2\">11.4%<\/td><td class=\"column-3\">$1,661<\/td><td class=\"column-4\">$16,923<\/td><td class=\"column-5\">$260,400<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\">Utah<\/td><td class=\"column-2\">70.0%<\/td><td class=\"column-3\">$2,273<\/td><td class=\"column-4\">$19,472<\/td><td class=\"column-5\">$455,000<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">Vermont<\/td><td class=\"column-2\">66.8%<\/td><td class=\"column-3\">$2,670<\/td><td class=\"column-4\">$21,123<\/td><td class=\"column-5\">$290,500<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">Virginia<\/td><td class=\"column-2\">37.8%<\/td><td class=\"column-3\">$1,919<\/td><td class=\"column-4\">$17,997<\/td><td class=\"column-5\">$360,700<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">Washington<\/td><td class=\"column-2\">9.6%<\/td><td class=\"column-3\">$1,455<\/td><td class=\"column-4\">$16,063<\/td><td class=\"column-5\">$519,800<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">West Virginia<\/td><td class=\"column-2\">30.7%<\/td><td class=\"column-3\">$1,758<\/td><td class=\"column-4\">$17,325<\/td><td class=\"column-5\">$155,600<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\">Wisconsin<\/td><td class=\"column-2\">43.0%<\/td><td class=\"column-3\">$1,998<\/td><td class=\"column-4\">$18,324<\/td><td class=\"column-5\">$247,400<\/td>\n<\/tr>\n<tr class=\"row-52\">\n\t<td class=\"column-1\">Wyoming<\/td><td class=\"column-2\">2.2%<\/td><td class=\"column-3\">$2,621<\/td><td class=\"column-4\">$20,922<\/td><td class=\"column-5\">$285,100<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-481 from cache -->\n<h4><b>Metro Table: Projected Impact of Raised SALT Cap<\/b><\/h4>\n<p><i><span style=\"font-weight: 400;\">Top 100 U.S. Metro Areas<\/span><\/i><\/p>\n\n<table id=\"tablepress-482\" class=\"tablepress tablepress-id-482\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>Metro<\/strong><\/th><th class=\"column-2\"><strong>% Homeowners Who Could Benefit From Raised SALT Cap<\/strong><\/th><th class=\"column-3\"><strong>Median Savings if Impacted Homeowner Itemizes SALT Deductions<\/strong><\/th><th class=\"column-4\"><strong>Median SALT Deductions if Impacted Homeowner Itemizes Deductions<\/strong><\/th><th class=\"column-5\"><strong>Median Home Value (2023 Census ACS)<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Akron, OH<\/td><td class=\"column-2\">43.00%<\/td><td class=\"column-3\">$2,131<\/td><td class=\"column-4\">$18,880<\/td><td class=\"column-5\">$199,056<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Albany, NY<\/td><td class=\"column-2\">81.50%<\/td><td class=\"column-3\">$4,426<\/td><td class=\"column-4\">$28,441<\/td><td class=\"column-5\">$272,395<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Albuquerque, NM<\/td><td class=\"column-2\">30.70%<\/td><td class=\"column-3\">$1,925<\/td><td class=\"column-4\">$18,023<\/td><td class=\"column-5\">$263,435<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Allentown, PA<\/td><td class=\"column-2\">76.40%<\/td><td class=\"column-3\">$3,034<\/td><td class=\"column-4\">$22,642<\/td><td class=\"column-5\">$278,721<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Anaheim, CA<\/td><td class=\"column-2\">89.00%<\/td><td class=\"column-3\">$4,203<\/td><td class=\"column-4\">$27,512<\/td><td class=\"column-5\">$915,500<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Atlanta, GA<\/td><td class=\"column-2\">47.00%<\/td><td class=\"column-3\">$1,857<\/td><td class=\"column-4\">$17,739<\/td><td class=\"column-5\">$344,512<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Austin, TX<\/td><td class=\"column-2\">28.10%<\/td><td class=\"column-3\">$1,769<\/td><td class=\"column-4\">$17,371<\/td><td class=\"column-5\">$437,804<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Bakersfield, CA<\/td><td class=\"column-2\">40.50%<\/td><td class=\"column-3\">$2,345<\/td><td class=\"column-4\">$19,769<\/td><td class=\"column-5\">$310,600<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Baltimore, MD<\/td><td class=\"column-2\">69.80%<\/td><td class=\"column-3\">$2,614<\/td><td class=\"column-4\">$20,891<\/td><td class=\"column-5\">$380,016<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Baton Rouge, LA<\/td><td class=\"column-2\">24.50%<\/td><td class=\"column-3\">$1,492<\/td><td class=\"column-4\">$16,217<\/td><td class=\"column-5\">$231,313<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Birmingham, AL<\/td><td class=\"column-2\">28.40%<\/td><td class=\"column-3\">$2,122<\/td><td class=\"column-4\">$18,843<\/td><td class=\"column-5\">$232,490<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Boise City, ID<\/td><td class=\"column-2\">25.60%<\/td><td class=\"column-3\">$1,950<\/td><td class=\"column-4\">$18,124<\/td><td class=\"column-5\">$433,156<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Boston, MA<\/td><td class=\"column-2\">86.90%<\/td><td class=\"column-3\">$4,211<\/td><td class=\"column-4\">$27,544<\/td><td class=\"column-5\">$634,303<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Buffalo, NY<\/td><td class=\"column-2\">74.20%<\/td><td class=\"column-3\">$5,106<\/td><td class=\"column-4\">$31,276<\/td><td class=\"column-5\">$209,593<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Camden, NJ<\/td><td class=\"column-2\">80.20%<\/td><td class=\"column-3\">$3,496<\/td><td class=\"column-4\">$24,567<\/td><td class=\"column-5\">$291,957<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Cape Coral, FL<\/td><td class=\"column-2\">3.50%<\/td><td class=\"column-3\">$2,259<\/td><td class=\"column-4\">$19,412<\/td><td class=\"column-5\">$326,300<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Charleston, SC<\/td><td class=\"column-2\">21.10%<\/td><td class=\"column-3\">$2,797<\/td><td class=\"column-4\">$21,654<\/td><td class=\"column-5\">$367,716<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Charlotte, NC<\/td><td class=\"column-2\">28.90%<\/td><td class=\"column-3\">$1,899<\/td><td class=\"column-4\">$17,912<\/td><td class=\"column-5\">$321,629<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Chicago, IL<\/td><td class=\"column-2\">81.20%<\/td><td class=\"column-3\">$3,149<\/td><td class=\"column-4\">$23,121<\/td><td class=\"column-5\">$312,963<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Cincinnati, OH<\/td><td class=\"column-2\">54.40%<\/td><td class=\"column-3\">$2,246<\/td><td class=\"column-4\">$19,360<\/td><td class=\"column-5\">$241,168<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">Cleveland, OH<\/td><td class=\"column-2\">55.20%<\/td><td class=\"column-3\">$2,615<\/td><td class=\"column-4\">$20,896<\/td><td class=\"column-5\">$204,041<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">Colorado Springs, CO<\/td><td class=\"column-2\">2.60%<\/td><td class=\"column-3\">$1,514<\/td><td class=\"column-4\">$16,310<\/td><td class=\"column-5\">$431,657<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Columbia, SC<\/td><td class=\"column-2\">12.30%<\/td><td class=\"column-3\">$1,701<\/td><td class=\"column-4\">$17,089<\/td><td class=\"column-5\">$211,674<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Columbus, OH<\/td><td class=\"column-2\">63.00%<\/td><td class=\"column-3\">$2,473<\/td><td class=\"column-4\">$20,305<\/td><td class=\"column-5\">$278,390<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">Dallas, TX<\/td><td class=\"column-2\">17.90%<\/td><td class=\"column-3\">$1,757<\/td><td class=\"column-4\">$17,319<\/td><td class=\"column-5\">$345,060<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Dayton, OH<\/td><td class=\"column-2\">49.60%<\/td><td class=\"column-3\">$2,192<\/td><td class=\"column-4\">$19,134<\/td><td class=\"column-5\">$188,084<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Denver, CO<\/td><td class=\"column-2\">17.20%<\/td><td class=\"column-3\">$1,363<\/td><td class=\"column-4\">$15,680<\/td><td class=\"column-5\">$569,198<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">Des Moines, IA<\/td><td class=\"column-2\">69.50%<\/td><td class=\"column-3\">$2,697<\/td><td class=\"column-4\">$21,238<\/td><td class=\"column-5\">$254,922<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">Detroit, MI<\/td><td class=\"column-2\">25.40%<\/td><td class=\"column-3\">$2,029<\/td><td class=\"column-4\">$18,454<\/td><td class=\"column-5\">$170,200<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">El Paso, TX<\/td><td class=\"column-2\">4.40%<\/td><td class=\"column-3\">$1,592<\/td><td class=\"column-4\">$16,632<\/td><td class=\"column-5\">$166,941<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">Elgin, IL<\/td><td class=\"column-2\">89.60%<\/td><td class=\"column-3\">$2,925<\/td><td class=\"column-4\">$22,189<\/td><td class=\"column-5\">$293,733<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">Fort Lauderdale, FL<\/td><td class=\"column-2\">4.20%<\/td><td class=\"column-3\">$2,394<\/td><td class=\"column-4\">$19,976<\/td><td class=\"column-5\">$380,400<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">Fort Worth, TX<\/td><td class=\"column-2\">11.20%<\/td><td class=\"column-3\">$1,603<\/td><td class=\"column-4\">$16,680<\/td><td class=\"column-5\">$294,088<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">Frederick, MD<\/td><td class=\"column-2\">79.70%<\/td><td class=\"column-3\">$2,968<\/td><td class=\"column-4\">$22,368<\/td><td class=\"column-5\">$573,253<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">Fresno, CA<\/td><td class=\"column-2\">53.10%<\/td><td class=\"column-3\">$1,983<\/td><td class=\"column-4\">$18,261<\/td><td class=\"column-5\">$362,600<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">Gary, IN<\/td><td class=\"column-2\">62.10%<\/td><td class=\"column-3\">$1,923<\/td><td class=\"column-4\">$18,014<\/td><td class=\"column-5\">$225,079<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">Grand Rapids, MI<\/td><td class=\"column-2\">30.00%<\/td><td class=\"column-3\">$1,576<\/td><td class=\"column-4\">$16,566<\/td><td class=\"column-5\">$262,367<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">Greensboro, NC<\/td><td class=\"column-2\">21.70%<\/td><td class=\"column-3\">$2,041<\/td><td class=\"column-4\">$18,502<\/td><td class=\"column-5\">$210,541<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">Greenville, SC<\/td><td class=\"column-2\">8.70%<\/td><td class=\"column-3\">$1,402<\/td><td class=\"column-4\">$15,840<\/td><td class=\"column-5\">$243,201<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">Honolulu, HI<\/td><td class=\"column-2\">71.80%<\/td><td class=\"column-3\">$2,227<\/td><td class=\"column-4\">$19,277<\/td><td class=\"column-5\">$873,000<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">Houston, TX<\/td><td class=\"column-2\">11.30%<\/td><td class=\"column-3\">$1,574<\/td><td class=\"column-4\">$16,558<\/td><td class=\"column-5\">$277,226<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">Indianapolis, IN<\/td><td class=\"column-2\">55.80%<\/td><td class=\"column-3\">$2,696<\/td><td class=\"column-4\">$21,233<\/td><td class=\"column-5\">$253,790<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">Jacksonville, FL<\/td><td class=\"column-2\">2.90%<\/td><td class=\"column-3\">$2,463<\/td><td class=\"column-4\">$20,264<\/td><td class=\"column-5\">$318,943<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">Kansas City, MO<\/td><td class=\"column-2\">60.40%<\/td><td class=\"column-3\">$1,952<\/td><td class=\"column-4\">$18,133<\/td><td class=\"column-5\">$268,361<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\">Knoxville, TN<\/td><td class=\"column-2\">0.60%<\/td><td class=\"column-3\">$777<\/td><td class=\"column-4\">$13,239<\/td><td class=\"column-5\">$259,121<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">Lake County, IL<\/td><td class=\"column-2\">84.90%<\/td><td class=\"column-3\">$4,077<\/td><td class=\"column-4\">$26,987<\/td><td class=\"column-5\">$311,372<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">Lakeland, FL<\/td><td class=\"column-2\">0.80%<\/td><td class=\"column-3\">$3,224<\/td><td class=\"column-4\">$23,431<\/td><td class=\"column-5\">$240,000<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">Las Vegas, NV<\/td><td class=\"column-2\">0.90%<\/td><td class=\"column-3\">$1,224<\/td><td class=\"column-4\">$15,098<\/td><td class=\"column-5\">$400,800<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">Little Rock, AR<\/td><td class=\"column-2\">10.30%<\/td><td class=\"column-3\">$1,199<\/td><td class=\"column-4\">$14,998<\/td><td class=\"column-5\">$199,762<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\">Los Angeles, CA<\/td><td class=\"column-2\">86.20%<\/td><td class=\"column-3\">$4,007<\/td><td class=\"column-4\">$26,695<\/td><td class=\"column-5\">$783,300<\/td>\n<\/tr>\n<tr class=\"row-52\">\n\t<td class=\"column-1\">Louisville, KY<\/td><td class=\"column-2\">53.90%<\/td><td class=\"column-3\">$2,547<\/td><td class=\"column-4\">$20,611<\/td><td class=\"column-5\">$241,155<\/td>\n<\/tr>\n<tr class=\"row-53\">\n\t<td class=\"column-1\">McAllen, TX<\/td><td class=\"column-2\">1.40%<\/td><td class=\"column-3\">$1,619<\/td><td class=\"column-4\">$16,746<\/td><td class=\"column-5\">$124,000<\/td>\n<\/tr>\n<tr class=\"row-54\">\n\t<td class=\"column-1\">Memphis, TN<\/td><td class=\"column-2\">2.60%<\/td><td class=\"column-3\">$1,615<\/td><td class=\"column-4\">$16,730<\/td><td class=\"column-5\">$230,120<\/td>\n<\/tr>\n<tr class=\"row-55\">\n\t<td class=\"column-1\">Miami, FL<\/td><td class=\"column-2\">7.00%<\/td><td class=\"column-3\">$2,780<\/td><td class=\"column-4\">$21,582<\/td><td class=\"column-5\">$425,400<\/td>\n<\/tr>\n<tr class=\"row-56\">\n\t<td class=\"column-1\">Milwaukee, WI<\/td><td class=\"column-2\">65.90%<\/td><td class=\"column-3\">$2,185<\/td><td class=\"column-4\">$19,104<\/td><td class=\"column-5\">$289,338<\/td>\n<\/tr>\n<tr class=\"row-57\">\n\t<td class=\"column-1\">Minneapolis, MN<\/td><td class=\"column-2\">83.20%<\/td><td class=\"column-3\">$2,180<\/td><td class=\"column-4\">$19,084<\/td><td class=\"column-5\">$355,793<\/td>\n<\/tr>\n<tr class=\"row-58\">\n\t<td class=\"column-1\">Montgomery County, PA<\/td><td class=\"column-2\">88.10%<\/td><td class=\"column-3\">$3,638<\/td><td class=\"column-4\">$25,158<\/td><td class=\"column-5\">$427,280<\/td>\n<\/tr>\n<tr class=\"row-59\">\n\t<td class=\"column-1\">Nashville, TN<\/td><td class=\"column-2\">2.10%<\/td><td class=\"column-3\">$1,017<\/td><td class=\"column-4\">$14,236<\/td><td class=\"column-5\">$398,485<\/td>\n<\/tr>\n<tr class=\"row-60\">\n\t<td class=\"column-1\">Nassau County, NY<\/td><td class=\"column-2\">96.10%<\/td><td class=\"column-3\">$7,200<\/td><td class=\"column-4\">$40,000<\/td><td class=\"column-5\">$595,647<\/td>\n<\/tr>\n<tr class=\"row-61\">\n\t<td class=\"column-1\">New Brunswick, NJ<\/td><td class=\"column-2\">82.30%<\/td><td class=\"column-3\">$3,174<\/td><td class=\"column-4\">$23,224<\/td><td class=\"column-5\">$466,162<\/td>\n<\/tr>\n<tr class=\"row-62\">\n\t<td class=\"column-1\">New Orleans, LA<\/td><td class=\"column-2\">29.90%<\/td><td class=\"column-3\">$1,662<\/td><td class=\"column-4\">$16,924<\/td><td class=\"column-5\">$260,066<\/td>\n<\/tr>\n<tr class=\"row-63\">\n\t<td class=\"column-1\">New York, NY<\/td><td class=\"column-2\">88.30%<\/td><td class=\"column-3\">$5,473<\/td><td class=\"column-4\">$32,804<\/td><td class=\"column-5\">$706,888<\/td>\n<\/tr>\n<tr class=\"row-64\">\n\t<td class=\"column-1\">Newark, NJ<\/td><td class=\"column-2\">83.90%<\/td><td class=\"column-3\">$3,732<\/td><td class=\"column-4\">$25,552<\/td><td class=\"column-5\">$486,569<\/td>\n<\/tr>\n<tr class=\"row-65\">\n\t<td class=\"column-1\">North Port, FL<\/td><td class=\"column-2\">5.20%<\/td><td class=\"column-3\">$2,534<\/td><td class=\"column-4\">$20,560<\/td><td class=\"column-5\">$367,180<\/td>\n<\/tr>\n<tr class=\"row-66\">\n\t<td class=\"column-1\">Oakland, CA<\/td><td class=\"column-2\">93.50%<\/td><td class=\"column-3\">$5,455<\/td><td class=\"column-4\">$32,731<\/td><td class=\"column-5\">$952,080<\/td>\n<\/tr>\n<tr class=\"row-67\">\n\t<td class=\"column-1\">Oklahoma City, OK<\/td><td class=\"column-2\">33.40%<\/td><td class=\"column-3\">$2,017<\/td><td class=\"column-4\">$18,405<\/td><td class=\"column-5\">$213,119<\/td>\n<\/tr>\n<tr class=\"row-68\">\n\t<td class=\"column-1\">Omaha, NE<\/td><td class=\"column-2\">57.80%<\/td><td class=\"column-3\">$2,608<\/td><td class=\"column-4\">$20,867<\/td><td class=\"column-5\">$246,806<\/td>\n<\/tr>\n<tr class=\"row-69\">\n\t<td class=\"column-1\">Orlando, FL<\/td><td class=\"column-2\">2.30%<\/td><td class=\"column-3\">$2,250<\/td><td class=\"column-4\">$19,374<\/td><td class=\"column-5\">$338,611<\/td>\n<\/tr>\n<tr class=\"row-70\">\n\t<td class=\"column-1\">Oxnard, CA<\/td><td class=\"column-2\">86.10%<\/td><td class=\"column-3\">$3,886<\/td><td class=\"column-4\">$26,192<\/td><td class=\"column-5\">$768,400<\/td>\n<\/tr>\n<tr class=\"row-71\">\n\t<td class=\"column-1\">Philadelphia, PA<\/td><td class=\"column-2\">43.90%<\/td><td class=\"column-3\">$2,381<\/td><td class=\"column-4\">$19,922<\/td><td class=\"column-5\">$253,481<\/td>\n<\/tr>\n<tr class=\"row-72\">\n\t<td class=\"column-1\">Phoenix, AZ<\/td><td class=\"column-2\">9.20%<\/td><td class=\"column-3\">$1,593<\/td><td class=\"column-4\">$16,636<\/td><td class=\"column-5\">$404,142<\/td>\n<\/tr>\n<tr class=\"row-73\">\n\t<td class=\"column-1\">Pittsburgh, PA<\/td><td class=\"column-2\">45.10%<\/td><td class=\"column-3\">$2,634<\/td><td class=\"column-4\">$20,974<\/td><td class=\"column-5\">$208,665<\/td>\n<\/tr>\n<tr class=\"row-74\">\n\t<td class=\"column-1\">Portland, OR<\/td><td class=\"column-2\">64.70%<\/td><td class=\"column-3\">$1,566<\/td><td class=\"column-4\">$16,526<\/td><td class=\"column-5\">$528,452<\/td>\n<\/tr>\n<tr class=\"row-75\">\n\t<td class=\"column-1\">Providence, RI<\/td><td class=\"column-2\">58.80%<\/td><td class=\"column-3\">$2,151<\/td><td class=\"column-4\">$18,961<\/td><td class=\"column-5\">$396,420<\/td>\n<\/tr>\n<tr class=\"row-76\">\n\t<td class=\"column-1\">Raleigh, NC<\/td><td class=\"column-2\">38.10%<\/td><td class=\"column-3\">$1,735<\/td><td class=\"column-4\">$17,228<\/td><td class=\"column-5\">$385,846<\/td>\n<\/tr>\n<tr class=\"row-77\">\n\t<td class=\"column-1\">Richmond, VA<\/td><td class=\"column-2\">26.70%<\/td><td class=\"column-3\">$1,533<\/td><td class=\"column-4\">$16,388<\/td><td class=\"column-5\">$328,429<\/td>\n<\/tr>\n<tr class=\"row-78\">\n\t<td class=\"column-1\">Riverside, CA<\/td><td class=\"column-2\">74.10%<\/td><td class=\"column-3\">$2,614<\/td><td class=\"column-4\">$20,893<\/td><td class=\"column-5\">$494,796<\/td>\n<\/tr>\n<tr class=\"row-79\">\n\t<td class=\"column-1\">Rochester, NY<\/td><td class=\"column-2\">80.60%<\/td><td class=\"column-3\">$5,067<\/td><td class=\"column-4\">$31,113<\/td><td class=\"column-5\">$189,331<\/td>\n<\/tr>\n<tr class=\"row-80\">\n\t<td class=\"column-1\">Sacramento, CA<\/td><td class=\"column-2\">82.70%<\/td><td class=\"column-3\">$3,068<\/td><td class=\"column-4\">$22,783<\/td><td class=\"column-5\">$554,693<\/td>\n<\/tr>\n<tr class=\"row-81\">\n\t<td class=\"column-1\">Salt Lake City, UT<\/td><td class=\"column-2\">74.70%<\/td><td class=\"column-3\">$2,639<\/td><td class=\"column-4\">$20,997<\/td><td class=\"column-5\">$478,546<\/td>\n<\/tr>\n<tr class=\"row-82\">\n\t<td class=\"column-1\">San Antonio, TX<\/td><td class=\"column-2\">9.20%<\/td><td class=\"column-3\">$1,749<\/td><td class=\"column-4\">$17,287<\/td><td class=\"column-5\">$265,057<\/td>\n<\/tr>\n<tr class=\"row-83\">\n\t<td class=\"column-1\">San Diego, CA<\/td><td class=\"column-2\">85.50%<\/td><td class=\"column-3\">$4,062<\/td><td class=\"column-4\">$26,924<\/td><td class=\"column-5\">$791,600<\/td>\n<\/tr>\n<tr class=\"row-84\">\n\t<td class=\"column-1\">San Francisco, CA<\/td><td class=\"column-2\">94.90%<\/td><td class=\"column-3\">$6,843<\/td><td class=\"column-4\">$38,511<\/td><td class=\"column-5\">$1,440,705<\/td>\n<\/tr>\n<tr class=\"row-85\">\n\t<td class=\"column-1\">San Jose, CA<\/td><td class=\"column-2\">92.50%<\/td><td class=\"column-3\">$6,661<\/td><td class=\"column-4\">$37,754<\/td><td class=\"column-5\">$1,359,915<\/td>\n<\/tr>\n<tr class=\"row-86\">\n\t<td class=\"column-1\">Seattle, WA<\/td><td class=\"column-2\">19.80%<\/td><td class=\"column-3\">$1,679<\/td><td class=\"column-4\">$16,996<\/td><td class=\"column-5\">$762,772<\/td>\n<\/tr>\n<tr class=\"row-87\">\n\t<td class=\"column-1\">St. Louis, MO<\/td><td class=\"column-2\">52.00%<\/td><td class=\"column-3\">$1,942<\/td><td class=\"column-4\">$18,090<\/td><td class=\"column-5\">$231,852<\/td>\n<\/tr>\n<tr class=\"row-88\">\n\t<td class=\"column-1\">Stockton, CA<\/td><td class=\"column-2\">77.00%<\/td><td class=\"column-3\">$2,631<\/td><td class=\"column-4\">$20,964<\/td><td class=\"column-5\">$494,500<\/td>\n<\/tr>\n<tr class=\"row-89\">\n\t<td class=\"column-1\">Tacoma, WA<\/td><td class=\"column-2\">3.80%<\/td><td class=\"column-3\">$1,576<\/td><td class=\"column-4\">$16,567<\/td><td class=\"column-5\">$484,400<\/td>\n<\/tr>\n<tr class=\"row-90\">\n\t<td class=\"column-1\">Tampa, FL<\/td><td class=\"column-2\">2.70%<\/td><td class=\"column-3\">$1,963<\/td><td class=\"column-4\">$18,177<\/td><td class=\"column-5\">$308,317<\/td>\n<\/tr>\n<tr class=\"row-91\">\n\t<td class=\"column-1\">Tucson, AZ<\/td><td class=\"column-2\">21.80%<\/td><td class=\"column-3\">$1,489<\/td><td class=\"column-4\">$16,206<\/td><td class=\"column-5\">$286,900<\/td>\n<\/tr>\n<tr class=\"row-92\">\n\t<td class=\"column-1\">Tulsa, OK<\/td><td class=\"column-2\">31.20%<\/td><td class=\"column-3\">$1,610<\/td><td class=\"column-4\">$16,708<\/td><td class=\"column-5\">$203,859<\/td>\n<\/tr>\n<tr class=\"row-93\">\n\t<td class=\"column-1\">Virginia Beach, VA<\/td><td class=\"column-2\">42.80%<\/td><td class=\"column-3\">$1,345<\/td><td class=\"column-4\">$15,603<\/td><td class=\"column-5\">$324,827<\/td>\n<\/tr>\n<tr class=\"row-94\">\n\t<td class=\"column-1\">Warren, MI<\/td><td class=\"column-2\">34.70%<\/td><td class=\"column-3\">$1,757<\/td><td class=\"column-4\">$17,319<\/td><td class=\"column-5\">$280,936<\/td>\n<\/tr>\n<tr class=\"row-95\">\n\t<td class=\"column-1\">Washington, DC<\/td><td class=\"column-2\">78.90%<\/td><td class=\"column-3\">$3,085<\/td><td class=\"column-4\">$22,853<\/td><td class=\"column-5\">$577,382<\/td>\n<\/tr>\n<tr class=\"row-96\">\n\t<td class=\"column-1\">West Palm Beach, FL<\/td><td class=\"column-2\">7.80%<\/td><td class=\"column-3\">$2,686<\/td><td class=\"column-4\">$21,194<\/td><td class=\"column-5\">$407,300<\/td>\n<\/tr>\n<tr class=\"row-97\">\n\t<td class=\"column-1\">Wilmington, DE<\/td><td class=\"column-2\">60.60%<\/td><td class=\"column-3\">$2,177<\/td><td class=\"column-4\">$19,069<\/td><td class=\"column-5\">$317,650<\/td>\n<\/tr>\n<tr class=\"row-98\">\n\t<td class=\"column-1\">Worcester, MA<\/td><td class=\"column-2\">87.60%<\/td><td class=\"column-3\">$3,186<\/td><td class=\"column-4\">$23,276<\/td><td class=\"column-5\">$390,700<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-482 from cache -->\n<h3><b>Methodology<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Please note:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This analysis only examines property and income taxes\u2014it does not explore the potential impact of local sales taxes, due to the high variability across different jurisdictions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The analysis estimates the share and amount of benefit to households who <\/span><b>could <\/b><span style=\"font-weight: 400;\">benefit from the SALT cap increase assuming they itemize their deductions. Many households with SALT liabilities above $10,000 may not itemize if their total deductions\u2014such as SALT, mortgage interest, and charitable contributions\u2014do not exceed the standard deduction for which they are eligible.\u00a0<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">For example: A household with a $15,000 SALT liability, $5,000 in deductible charitable contributions, and $20,000 in mortgage interest could deduct $40,000\u2013an amount well above the $30,000 standard deduction for a married couple filing jointly. However, a similar household without a mortgage would only be able to deduct $20,000. The circumstances under which a household should itemize deductions are complex and should be determined with consultation from a tax professional.\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>To estimate the share of homeowner households who stand to benefit from the increased SALT deduction cap we performed the following calculations for each state and metro area:<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Estimate the property tax rate for each jurisdiction using 2023 ACS Census data on median home values and median property taxes paid by owner-occupied households.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Estimate the typical relationship between a household\u2019s property tax liability and their total state and local income taxes in each jurisdiction based on aggregate revenue data on the average split between residential property and income taxes.\u00a0<\/span>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">For example: If a homeowner\u2019s property tax liability is estimated at $10,000\u00a0 and 33% of SALT revenue in their jurisdiction comes from residential property taxes, we expect the household to pay $20,000 in state and local income taxes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Aggregate data on state and local government revenue from personal income taxes and property taxes come from the Census\u2019s 2023 Annual Survey of State and Local Government Finances (ALFIN). Because the 2023 ALFIN survey does not distinguish between property taxes collected between residential and commercial properties, we estimate the share collected from residential property using state-level shares from a Tax Foundation <\/span><a href=\"https:\/\/taxfoundation.org\/research\/all\/state\/state-and-local-property-taxes-target-commercial-and-industrial-property\/\"><span style=\"font-weight: 400;\">analysis<\/span><\/a><span style=\"font-weight: 400;\"> of previous years\u2019 data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Calculate the share of homeowner households in a jurisdiction that are expected to pay more than $10,000 (the old SALT cap) in property taxes and state\/local income taxes combined, using 2023 ACS Census data on the number of owner-occupied households by property value and the estimated relationship between property and SALT taxes.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><b>To estimate the potential savings for homeowner households who stand to benefit from the increased SALT deduction cap, we:<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Estimate the minimum property value threshold for each jurisdiction above which a homeowner would be expected to have a SALT liability of at least $10,000.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Identify the median impacted household\u2019s SALT liability for each jurisdiction using ACS Public Use Microdata (PUMS) to calculate the median home value above the minimum threshold estimated above.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Calculate the difference between the median deduction and the old SALT cap of $10,000.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Apply a 24% marginal tax rate (which corresponds to incomes roughly between $100-200k for individual filers, and $200-400k for married joint filers) to the portion that exceeds the cap\u00a0<\/span>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">For example, if a typical household deducts $30,000, we apply the 24% rate against the $20,000 portion above the old $10,000 cap\u2014meaning the savings would be $4,800.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>The typical New York household impacted by the raised SALT cap will save $7,092\u00a0 annually\u2014the most of any state.\u00a0 86% of Massachusetts homeowner households could benefit from the increased SALT cap\u2014the highest share of any state. In comparison, only 1% of households in Tennessee and Nevada are expected to benefit. States with high home values [&hellip;]<\/p>\n","protected":false},"author":13568,"featured_media":82276,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[43,51],"tags":[20,623,77],"dashboard":[],"coauthors":[682,710],"class_list":["post-82229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-equality-policy","category-policy","tag-housing-affordability","tag-national","tag-taxes"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Increased SALT Cap Could Save Typical Impacted New York Homeowner $7,000 Annually<\/title>\n<meta name=\"description\" content=\"The typical New York household impacted by the raised SALT cap will save $7,092 annually\u2014the most of any state. 86% of Massachusetts homeowner households could benefit from the increased SALT cap\u2014the highest share of any state. 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