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Business, 09.12.2021 17:00 alysonmariefont

Assume your home is assessed at $220,000. You have a $217,000 loan for 15 years at 7 percent. Your property tax rate is 1.3 percent of the assessed value. In year one, you would pay $15,190 in mortgage interest and $2,860 in property tax (1.3 percent on $220,000 assessed value). Assuming you are in a 28 percent tax bracket, by what amount would you have lowered your federal income tax

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Assume your home is assessed at $220,000. You have a $217,000 loan for 15 years at 7 percent. Your p...
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