| Percentage of Homeowners taking Homeowner Related Deductions on Federal Tax Returns | |||
| 1996 Owner-Occupied Housing Units According the Bureau of the Census: | 66,041 | ||
| 1996 Tax Returns With Mortgage Interest Deduction According to the IRS: | 29,436 | ||
| 1996 Tax Returns With Real Property Tax Deduction According to the IRS: | 31,348 | ||
| Percentage of Homeowners Taking Mortgage Interest Deduction in 1996: | 45% | ||
| Percentage of Homeowners Taking Real Property Tax Deduction in 1996: | 47% | ||
| Source: Census and IRS data | |||
| ITEP Model Analysis By Income Level, 1999 | |||
|
Income Range |
Percentage of Homeowners with: | ||
| Real Property Tax Deduction | Mortgage Interest Deduction | ||
| < $30,000 | 11% | 9% | |
| $30 - $75,000 | 48% | 45% | |
| $75 - $100,000 | 82% | 76% | |
| > $ 100,000 | 93% | 84% | |
| All | 48% | 44% | |
| Addendum | |||
| < $50,000 | 22% | 20% | |
| < $75,000 | 33% | 31% | |
| < $100,000 | 40% | 37% | |
| Source: Institute on Taxation and Economic Policy Microsimulation Tax Model, June 1999 | |||
Last Updated June 22, 1999
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