منابع مشابه
Capping the Mortgage Interest Deduction
769 National Tax Journal Vol. LX, No. 4 December 2007 Abstract In this paper we examine the economic implications of several policy options for capping the mortgage interest deduction (MID). We extend the standard user–cost model of owner–occupied housing to include a cap on the mortgage size receiving tax–favored status. Our user–cost estimates for taxpayers with mortgages above the current–la...
متن کاملRegional Differences in the Utilization of the Mortgage Interest Deduction
The value of federal income-tax deductions, such as the home mortgage interest deduction (MID), varies across geographic regions. Taxpayers in regions with relatively high incomes, state and local income taxes, and housing costs are more likely to utilize deductions; that is, they are more likely to itemize, more likely to have a larger deduction conditional on itemizing, and more likely to get...
متن کاملThe Benefits of the Home Mortgage Interest Deduction
The home mortgage interest deduction creates incentives to buy more housing and to become a homeowner, and the case for the deduction rests on social benefits from housing consumption and homeownership. There is little evidence suggesting large externalities from the level of housing consumption, but there appear to be externalities from homeownership. Externalities from living around homeowner...
متن کاملThe mortgage interest deduction and its impact on homeownership decisions
This paper examines the impact of the combined U.S. state and federal mortgage interest deduction (MID) on homeownership attainment, using data from 1984 to 2007 and exploiting variation in the subsidy arising from changes in the MID within and across states over time. We test whether capitalization of the MID into house prices offsets the positive effect on homeownership. We find that the MID ...
متن کاملRevenue Costs and Incentive Effects of the Mortgage Interest Deduction for Owner-Occupied Housing
We draw on household-level data from the 2004 Survey of Consumer Finances to analyze how changes in the income tax deduction for mortgage interest would affect the distribution of income tax liabilities and the consumption of housing services. Our primary innovation is to focus on the responses of household portfolios and the homeowner loan-to-value ratio to such tax changes. We estimate that r...
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ژورنال
عنوان ژورنال: National Tax Journal
سال: 2007
ISSN: 0028-0283,1944-7477
DOI: 10.17310/ntj.2007.4.05