Wednesday, November 28, 2018

New Oregon Tax Expenditure Report Out: $970 Million Mortgage Interest Deduction Expenditure Is UP $58.6 Million/6.4% from Last Biennium, Bucking Federal Decline in MID.

The Oregon Tax Expenditure report for 2019-2021 is out HERE.   

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

No comments:

Post a Comment