Mortgage Tax Incentives
What’s the mortgage interest deduction worth to the typical homeowner who claims it at tax time? Nearly $10,000 on average, according to a provocative new analysis of federal incentives for homeowners nationwide.
But there are many parts of the country where the “typical” tax deduction for mortgage interest is far bigger, and plenty of others where it is considerably smaller. Take, for example, California’s 14th congressional district in and around high-cost Silicon Valley.