The culprit: loss of local tax deductions.
With one of the highest average tax bills in the state, at $14,626 in 2016, most Township homeowners get a nice break with the federal tax deduction for the local tax.
If Trump's tax plan, which is still a long way from taking effect, is instituted that break will disappear while tax breaks for corporations and the rich will increase.
"The elimination of the federal tax credit for local property taxes would be a disaster for Maplewood and the entire state," Mayor Vic Deluca said via email. "Maplewood residents who work in NYC will be impacted even more by the removal of credit for NY income tax. We need to fight this proposal which will benefit large corporations and wealthy people at the expense of middle income families across the state."
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