Homeowners are well aware that peripheral costs swell over time and can put a strain on incomes. Utility bills increase, home insurance creeps up annually and taxes rise with the cost of schools and road repair.
When the chatter was at its peak on the 2018 tax law changes being proposed, one of the big areas of concern for homeowners was the elimination of the mortgage interest deduction. Right behind that issue was a similar treatment with regards to property tax deductions.
The Fiscal Cliff negotiations earlier this year created new tax breaks for homeowners, and extended others.