Re: [Chat] Md mortg interest write off to be dropped?
I hope not. Judy On 01/26/2012 01:40 PM, langwi...@comcast.net wrote: Would someone on the list comment on the likihood of the governor doing away with the home mortgage deduction in Maryland. Christine *Mortgage Interest Deduction May b Eliminated In Maryland * **by Joe Alero 1/24/2012 sbynews.blogspot.com http://sbynews.blogspot.com/ Governor O’Malley announced his budget proposal which will reduce the deductions of all Marylanders who itemize and make more than $100,000. Most heavily impacted is the Mortgage Interest Deduction. Instead of introducing the proposal as a separate bill, where it would have a hearing at which MAR could testify, the Governor is including it in BRFA, the Budget Reconciliation and Financing Act, which means that there will be no hearing or testimony on this specific provision. The proposal to reduce deductions for Maryland taxpayers will disproportionately burden Maryland homeowners. The two most important deductions for Maryland homeowners are the mortgage interest deduction and state and local property tax deduction. Over 50% of Maryland taxpayers itemize, the highest proportion in the country. Maryland has the highest percentage of taxpayers, almost 38%, claiming the mortgage interest deduction. The mortgage interest deduction and real estate taxes account for almost 70% of total deductions for Maryland taxpayers. In 2008, almost 1.1 million Maryland taxpayers claimed the mortgage interest deduction. That same year, over 1.1 million Maryland taxpayers deducted property taxes. Real estate accounts for over 20% of Maryland’s gross state product. Housing and real estate are one of the most heavily taxed sectors of the economy, and Maryland has one of the most aggressive real estate tax structures in the country. Maryland property owners already carry a significant tax burden, contributing the majority of revenue to local jurisdictions as well as 4.6% of state tax revenues. The average percentage of state tax revenue from real estate nationally is only 1.8%. ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/ ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/
Re: [Chat] Md mortg interest write off to be dropped?
I have no idea what the possibility of this being successfully passed through the legislature is (remember, the Governor can't do this unilaterally, it has to be passed as a revision to the tax code) but if you read the article, under this plan the deduction would not be done away with for everyone, but for people making more than $100K only. jf On Jan 26, 2012, at 1:40 PM, langwi...@comcast.net wrote: Would someone on the list comment on the likihood of the governor doing away with the home mortgage deduction in Maryland. Christine Mortgage Interest Deduction May b Eliminated In Maryland by Joe Alero 1/24/2012 sbynews.blogspot.com Governor O’Malley announced his budget proposal which will reduce the deductions of all Marylanders who itemize and make more than $100,000. Most heavily impacted is the Mortgage Interest Deduction. Instead of introducing the proposal as a separate bill, where it would have a hearing at which MAR could testify, the Governor is including it in BRFA, the Budget Reconciliation and Financing Act, which means that there will be no hearing or testimony on this specific provision. The proposal to reduce deductions for Maryland taxpayers will disproportionately burden Maryland homeowners. The two most important deductions for Maryland homeowners are the mortgage interest deduction and state and local property tax deduction. Over 50% of Maryland taxpayers itemize, the highest proportion in the country. Maryland has the highest percentage of taxpayers, almost 38%, claiming the mortgage interest deduction. The mortgage interest deduction and real estate taxes account for almost 70% of total deductions for Maryland taxpayers. In 2008, almost 1.1 million Maryland taxpayers claimed the mortgage interest deduction. That same year, over 1.1 million Maryland taxpayers deducted property taxes. Real estate accounts for over 20% of Maryland’s gross state product. Housing and real estate are one of the most heavily taxed sectors of the economy, and Maryland has one of the most aggressive real estate tax structures in the country. Maryland property owners already carry a significant tax burden, contributing the majority of revenue to local jurisdictions as well as 4.6% of state tax revenues. The average percentage of state tax revenue from real estate nationally is only 1.8%. ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/ ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/
Re: [Chat] Md mortg interest write off to be dropped?
Christine, As I understand the proposal, an individual making more than $100K or a couple making more than $150K would reduce itemized deductions by 10% or 20%. Since the deductions for home ownership are the largest deductions for most people, those with higher incomes would lose a part of that deduction. But he is not proposing doing away entirely with the deduction. The headline on the article below is just plain wrong. Steve On 1/26/2012 1:40 PM, langwi...@comcast.net wrote: Would someone on the list comment on the likihood of the governor doing away with the home mortgage deduction in Maryland. Christine *Mortgage Interest Deduction May b Eliminated In Maryland * **by Joe Alero 1/24/2012 sbynews.blogspot.com http://sbynews.blogspot.com/ Governor O'Malley announced his budget proposal which will reduce the deductions of all Marylanders who itemize and make more than $100,000. Most heavily impacted is the Mortgage Interest Deduction. Instead of introducing the proposal as a separate bill, where it would have a hearing at which MAR could testify, the Governor is including it in BRFA, the Budget Reconciliation and Financing Act, which means that there will be no hearing or testimony on this specific provision. The proposal to reduce deductions for Maryland taxpayers will disproportionately burden Maryland homeowners. The two most important deductions for Maryland homeowners are the mortgage interest deduction and state and local property tax deduction. Over 50% of Maryland taxpayers itemize, the highest proportion in the country. Maryland has the highest percentage of taxpayers, almost 38%, claiming the mortgage interest deduction. The mortgage interest deduction and real estate taxes account for almost 70% of total deductions for Maryland taxpayers. In 2008, almost 1.1 million Maryland taxpayers claimed the mortgage interest deduction. That same year, over 1.1 million Maryland taxpayers deducted property taxes. Real estate accounts for over 20% of Maryland's gross state product. Housing and real estate are one of the most heavily taxed sectors of the economy, and Maryland has one of the most aggressive real estate tax structures in the country. Maryland property owners already carry a significant tax burden, contributing the majority of revenue to local jurisdictions as well as 4.6% of state tax revenues. The average percentage of state tax revenue from real estate nationally is only 1.8%. ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/ ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/
Re: [Chat] MD
Judy: try the family medicine department at University of Maryland. I go there and so far have been pretty happy. Dawna -Original Message- From: jberlin [EMAIL PROTECTED] Sent: Mar 1, 2008 11:13 AM To: Charles Village Discussion List [EMAIL PROTECTED] Cc: The Charles Village Chat List Chat@charlesvillage.info Subject: [Chat] MD can anyone recommend a Family Practitioner or Medical MD in the area? i have new insurance and have to find a new MD. Thanks. Judy ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/ ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/
Re: [Chat] MD
Dawna, One of my students asked me if UM provides dental care--checkups, cleanings, etc. Do you know? Christine Gray -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of [EMAIL PROTECTED] Sent: Saturday, March 01, 2008 12:02 PM To: The Charles Village Chat List Subject: Re: [Chat] MD Judy: try the family medicine department at University of Maryland. I go there and so far have been pretty happy. Dawna -Original Message- From: jberlin [EMAIL PROTECTED] Sent: Mar 1, 2008 11:13 AM To: Charles Village Discussion List [EMAIL PROTECTED] Cc: The Charles Village Chat List Chat@charlesvillage.info Subject: [Chat] MD can anyone recommend a Family Practitioner or Medical MD in the area? i have new insurance and have to find a new MD. Thanks. Judy ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/ ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/ ___ Chat mailing list Chat@charlesvillage.info http://charlesvillage.info/mailman/listinfo/chat_charlesvillage.info archive: http://www.mail-archive.com/chat@charlesvillage.info/
