After Federal Overhaul, States Weigh Changes to Their Tax Codes - Bloomberg
...Lawmakers say the new rule could depress home values as residents choose to live elsewhere, thereby making it harder for local governments to raise much-needed revenues of their own. Finances in the tri-state area are already among the most strained in the nation and analysts say the situation could deteriorate further under the new code....
In Vermont, more than 10 percent of residents’ incomes goes toward state and local taxes,...
...The change to the mortgage interest deduction is also likely to slow home construction and sales, which could suppress home values and property tax values in higher-price markets, ...
...Legislators say states could replace the income tax with payroll tax that are levied on employers. They could also turn their state taxes into charitable donations, in which residents could receive a state income-tax credit for the full amount of their gift and qualify for a federal deduction.
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