Maryland Home Interest Deduction, As We Know It On The Way Out?
For more information: 800-638-6425
Contact: Debbie Hager
Maryland Association of REALTORS 800-638-6425
MARYLAND HOMEOWNER’S MORTGAGE INTEREST DEDUCTION IN JEOPARDY
“In his recently introduced budget, Governor Martin has proposed to reduce the mortgage interest deduction for many Maryland homeowners,” according to Mary C. Antoun, Chief Executive Officer of the Maryland Association of REALTORS®.“Since 1913, the tax code has protected mortgage interest deductibility. Maryland shouldn’t be the first state to scale back the most important tax benefit homeowners receive,” stated Antoun.”Everyone is well aware of the burdens Maryland homeowners are facing. Many homeowners have watched the value of their homesdecrease. One-fifth of Maryland homeowners are currently underwater, and now homeowners find the one constant reliable tax benefit to owning a home under attack.”If tax deductions are capped, as proposed by the Governor’s budget, many Maryland homeowners will lose some of the value of their mortgage interest deduction and the deductibility of state and local property taxes. “These two principal real-estate related deductions accounted for almost 70% of total deductions claimedby Maryland taxpayers in 2008,” noted Antoun.
Hey Folks! What are your thoughts? Let me know and comment below.
Chris Weymouth, Director, Certified Luxury Home Marketing Specialist, CLHMS and Debbie Luber Weymouth, Manager, have marketed and sold over 4000 homes in Maryland since 1983. Expertly trained and award winning agents, they are leaders for The Weymouth Group at Keller Williams that has been recognized by their peers as one of the best in the business. Chris Weymouth is ranked in the top 1% at Keller Williams Select Realtors, top 1% in Howard County and Maryland among Realtors. Serving Central Maryland and all our friends and family for almost 60 years. Need a Luxury Home Marketing and Buyer Specialist in Howard County (Ellicott City, Woodstock, Clarksville, Marriottsville, Fulton, Laurel, West Friendship, Glenelg, Columbia, Elkridge, Dayton, Mt. Airy, Woodbine and more), Carroll County (Elkridge & Sykesville), Baltimore County (Catonsville, Woodstock, Owings Mills, Pikesville and Reisterstown), Anne Arundel County (Pasadena, Severna Park, Hanover, Severn, Glen Burnie, Annapolis and Odenton), Prince Georges County (Bowie & Laurel), Montgomery County (Silver Spring, Olney, Bethesda and Sandy Spring) or Harford County? We Know This Market! Then call Chris at 443-280-1922 or email email@example.com