Homeowners with an adjusted gross income (AGI) between $50,000 and $200,000 would see an average annual tax increase of $815. Non-homeowners with AGI in the same range would see an average annual tax reduction of $516.
Home prices nationwide in the short run would fall by 10.2 percent as a result of the comprehensive tax reform option.
The combined tax savings for those who claim the mortgage interest deduction (MID) and real estate tax deduction would fall from over $1.3 trillion for fiscal years 2018-2027 under the current law to just $232 billion under the comprehensive tax reform option, a drop of 82 percent.
An estimated 83 percent of all personal income taxes are paid by homeowners.
Non-homeowners, across all income categories, would see tax decreases on average.