Local Assemblyman Against Ending Federal Tax Deductions
If a new budget deduction plan is allowed to pass in the federal government, home owners in the Mohawk Valley could see a massive increase in their taxes.
"If you own a home and you pay local or city property taxes, county property taxes, you can deduct that on your federal income tax every year," Assemblyman Anthony Brindisi said. "The proposal that's being floated right now in Washington would eliminate that tax deduction."
Brindisi noted that if those deductions are taken away, nearly 40,000 local homeowners would see an average of $2,300 dollars in tax increases. Home ownership would also take a hit, as more people will shy away from buying a new house.
Brindisi says he has contacted federal legislators in New York to combat the cuts, citing that if the legislation was passed, it would damage the middle-class the most.