Proposed Tax Break Could Benefit Many Florida Homeowners

A new federal proposal could bring significant tax relief to Florida homeowners by raising the cap on state and local tax (SALT) deductions from $10,000 to $40,000 annually for five years. This adjustment would especially help residents in areas with higher property taxes, offering potential savings and easing financial pressure. Real estate experts and industry groups believe the measure could also have a positive impact on the housing market by improving affordability. While not all taxpayers would qualify for the full deduction, the change could benefit many middle- and upper-income homeowners across the state. For more information click here.