Here is a quick comparison of just one housing tax break, the mortgage interest deduction:
- The 2019-2021 Oregon estimated MID tax expenditure of $970.3 million is up $58.6 million/6.4% from the 2017-2019 estimated expenditure of $911.7 million.
- Compared to the $929.9 estimated Oregon MID tax expenditure for 2015-2017, the $970.3 million MID 2019-2021 tax expenditure is UP $40.4 million/ 4.3%.
- As a frame of reference, the federal MID tax expenditure is projected to DROP by $35 BILLION/52% from FY 2017-FY 2021. [From $68 BILLION to $33 BILLION ]. See my earlier post HERE for more details on changes in federal MID expenditures).
Originally created and posted on the Oregon Housing Blog.