Economics

Housing and Mortgage Markets

By Elkman (Own work) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia Commons

Blog Post

10 U.S. Counties with the Highest Mortgage Interest Deduction Claim Rate

December 10, 2014, Fred Dews

The mortgage interest deduction (MID) is one of the nation’s largest federal tax expenditures, allowing taxpayers whose total itemized deductions exceed the standard deduction to deduct interest on their primary residence or secondary home up to certain limits. Using zip-code level data on taxes and demographics, Benjamin Harris—a fellow in Economic Studies—and Research Assistant Lucie Parker examine characteristics of the MID in a new Urban-Brookings Tax Policy Center paper. The table here shows the top ten U.S. counties by share of taxpayers claiming the MID.

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