Own a home? Here's how the new tax "cut" affects you.

by Brandon Miller on Feb 16, 2018

Homeowners, Financial Planning, Education, Tax

Let’s face it. The cost of owning a home in the Bay Area is crazy high. We pay taxes on top of taxes—at some of the top rates in the nation. Our state taxes alone are the highest of any state in the Union, according to the Federation of Tax Administrators.

But every April 15, homeowners could find a little relief in the form of tax deductions. We could deduct the full amount paid for personal (non-business) state and local property taxes. And that was on top of being able to deduct every dime paid in state and local income tax.

Ah, the good old days.

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