How New Yorkers Would Lose Under the Republican Tax Bill

“We’re worried and we’re wondering what are we going to tell our kids,” said Cynthia Metcalf, who lives with her husband and the youngest of their four children in Mount Kisco, an affluent commuter town. “I just feel like it’s an attack deliberately set against people from the Northeast or from other blue states.”

Relying More on SALT Deductions

Taxpayers in New York County (Manhattan) take the highest average deduction for state and local deductions, known as SALT, on their federal tax returns. And among the top 12 counties in the United States, half are in the greater New York metropolitan area.






Share who

take SALT

deductions

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

New York

San Mateo

Marin

San Francisco

Westchester

Fairfield

Santa Clara

Pitkin

Teton

Nassau

Essex

Bergen

N.Y.

Calif.

Calif.

Calif.

N.Y.

Conn.

Calif.

Colo.

Wyo.

N.Y.

N.J.

N.J.

$60,400

39,300

38,200

35,000

34,300

33,400

32,200

27,000

26,100

23,900

23,700

23,700

45

44

51

39

47

45

43

35

30

50

35

46





Ms. Metcalf, who teaches history at Westchester Community College, said she had tried to use TurboTax software to estimate how their tax returns would be affected. Currently, they can deduct the more than $20,000 a year they pay in school and town taxes, and the 7 percent of their income that goes to state taxes. Losing those deductions means the family could wind up paying considerably more, Ms. Metcalf said.

That prospect has the Metcalfs rethinking their financial future. Ms. Metcalf said she dreaded the prospect of telling her youngest child, Genevieve, a high school senior, that the college of her choice was beyond their means. And she said she and her husband might have to accelerate plans to relocate once all their children have left home. Then again, she added, selling their home could become more difficult.

“Now I’m starting to think, who’s going to want to buy our house here in New York?” Ms. Metcalf said. “The whole game has shifted.”

Indeed it has, and not just for homeowners. The tax plan would probably cut taxes for most New Yorkers, at least in the short term. But it has several provisions that…

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