Homeowners Deduct Over $9,000 in Mortgage Interest

The average homeowner deducts $9,650 for mortgage interest, according kl singapore analysis released on Thursday.

The National Association of Home Builders says that 35 million taxpayers used cheap broadband deals home-mortgage deduction in 2003, deducting $338 billion. Thirty-nine million households deducted real estate taxes for the year, which added $119 billion broadband test homeowner tax breaks across the country.

The average homeowner deducted $3,000 in real estate taxes.

IRS data was used in the NAHB analysis. It stressed the importance of preferences in the tax code for homeowners.

"Because the mortgage interest web site design real estate deductions significantly reduced federal tax liabilities for homeowners, they are important tools for promoting homeownership," said Jerry Howard, chief executive officer of the association. "The report shows that millions of working families across the nation use and depend upon these important tax incentives to help streamyx jumper maintain their current standard of living."

Every state in the country had at least one congressional broadband finder that deducted $259 million or more in home mortgage interest and $43 million or more in real estate taxes. The average district contains approximately 80,000 taxpayers who use the mortgage interest deduction, according to the report.

Higher real estate tax deductions coincided with higher home prices and real estate tax rates. New Jersey topped the list for real estate tax deductions, with an average of $6,000 check internet connection speed household.

Rapidly canadian internet pharmacy populations and high housing prices were evident in areas with the highest mortgage interest deductions. California tops the list with $64.9 billion in deductions for homeowners. The state's 14th district, which includes parts of San Mateo, Santa ethernet adsl modem and Santa Cruz counties, had an average mortgage interest deduction of $35,000 per household in 2003.

The top ten states for mortgage interest deductions in 2003 were:

California $64.9 billion

New York $19.7 billion

Florida $17.6 billion

Texas $16 billion

Illinois $15.9 billion

New Jersey $12.9 billion

Michigan $11.5 billion

Virginia $11.3 billion

Ohio $10.9 billion

Pennsylvania $10.8 billion

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