The Numbers: Who Benefits from the Mortgage Interest Deduction?
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- Created: Tuesday, 04 January 2011 18:20
The National Low Income Housing Coalition examined data from the Joint Committee on Taxation Estimates of Federal Tax Expenditures 2009-2013 to derive the following estimates of who benefits from the nation’s mortgage interest deduction. Here’s what the NLIHC found:
- 54% of homeowners claim the mortgage interest deduction.
- 24% all taxpayers claim the mortgage interest deduction.
- 74% of the benefit of the mortgage interest deduction goes to taxpayers with income of $100,000 or more.
- 32% of the benefit of the mortgage interest deduction goes to taxpayers with income of $200,000 or more.
(Source: National Low Income Housing Coalition Memo to Members)