While the Trump Administration’s new tax proposal doesn’t eliminate the mortgage-interest tax deduction (MITD), it doubles the standard deduction and eliminates the ability of filers to deduct state and local taxes, including property taxes. Experts at Trulia and Bloomberg say the homebuyers most likely to be affected are middle-income American households making between $68,540 and $129,422 who are looking to purchase a home priced between $358,000 and $676,000.
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