“Trump Tax Reform Hits Home in Wealthy New York Suburbs”
March 22, 2019
“…Nearly 11 million taxpayers will be affected by the new cap on so-called SALT deductions on the taxes they file this year, and could lose out on a cumulative $323 billion, according to a February estimate from the U.S. Treasury Inspector General for Tax Administration.
For those people, the April 15 deadline carries a greater sense of dread than usual. New rules include a higher standard deduction and changes to the Alternate Minimum Tax, and it can be hard to say, even for experts, how they’ll affect individuals until they file…
“Homes over $3 million are seeing a significant slowing of sales and reduction of offering prices,” Schneck said…”
Regardless of what taxes government set in general rich people have a way of avoiding taxes. Not that I blame them. The less taxes someone pays the better. That’s my stance on the subject. If you’re the type of person considering a 3 million dollar home I don’t think you have a lot of monetary issues to worry about. If all else fails you can just move. (Away from the taxes)