NAHB: Mortgage Interest Deduction overwhelmingly benefits families earning less than $200,000 per year

According to a new report by NAHB, the vast majority of taxpayers claiming the mortgage interest deduction, 91 percent, earn less than $200,000 per year.

 In South Carolina the percentage is higher: 94.1 percent. 

Higher cost states, like New York and California, have lower home ownership rates and therefore lower use of the mortgage interest deduction.  The highest percentage of claimants earning less than $200,000 and using the mortgage interest deduction can be found in Idaho, at 95.4 percent.  The lowest percentage of claimants is in Connecticut, at 87.4 percent.

Read the complete report at Eye on Housing by clicking here.