Urban Real Estate

Will Tax Breaks Continue For Homeowners in 2017?

Will Tax Breaks Continue For Homeowners in 2017?

With a new presidential administration taking shape and a call from President-elect Donald Trump to revise the country's complex tax code, what will happen to popular tax breaks enjoyed by homeowners?

Specifically, two tax breaks could be on the chopping block in 2017: the deducation for mortage insurance premiums and the mortgage interest deduction.

A variety of changes have been proposed for the popular tax breaks - they could even fall victim to obsolecence if, for example, the standard deduction was raised.

The Chicago Tribune has a column exploring the potential future of these tax breaks here.