The average homeowner moves $ 9650 for mortgage interest, according to an analysis released Thursday.
The National Association of Home Builders says that 35 million taxpayers, the deduction for home mortgage in 2003 used 338 billion U.S. dollars less. Thirty-nine million households deducted real estate taxes for the years the 119 billion U.S. dollars in tax breaks for homeowners across the country included.
The average homeowner deduction USA $ 3,000 in property taxes.
IRS dataNAHB used in the analysis. He stressed the importance of preferences in the tax code for homeowners.
"Given that mortgage interest and real estate deductions significantly reduce federal taxes for owners, which are important tools to promote home ownership," said Jerry Howard, executive director of the association. "The report shows that millions of working families across the country and use it in this important tax incentives to maintain theircurrent standard of living. "
Each state in the country had at least one quarter of Congress to deduct 259 million U.S. dollars or more in mortgage interest and $ 43 million or more in property taxes. The district contains on average about 80,000 taxpayers to use the mortgage interest deduction, the report said.
Property tax deductions fell with higher housing prices and higher property tax rates. New Jersey, the head of theList of estate tax, averaging $ 6,000 per household.
The rapidly growing populations and expensive homes were in areas with the most obvious deductions of mortgage interest. California tops the list with 64.9 billion U.S. dollars in deductions for homeowners. The state is 14 District, that part of San Mateo, Santa Clara and Santa Cruz are concerned, had an average mortgage interest deduction of $ 35,000 per person per household in 2003.
The top ten countries of the mortgageInterest deductions in 2003 were:
California 64.9 billion U.S. dollars
New York, 19.7 billion U.S. dollars
Florida 17.6 billion U.S. dollars
texas 16 billion U.S. $
Illinois 15.9 billion U.S. dollars
New Jersey 12.9 billion U.S. dollars
Michigan, 11.5 billion U.S. dollars
Virginia, 11.3 billion U.S. dollars
Ohio, 10.9 billion U.S. dollars
Pennsylvania, 10.8 billion U.S. dollars
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