SALT Deduction Key Facts

SALT Deduction Key FactsSALT DEDUCTIONS KEY FACTS
41% of New Jersey households deduct state/local income, sales and/or property taxes paid from their federal taxes – the third highest share of all 50 states

Senate Proposal completely eliminates all of these state and local tax (SALT) deductions

House Proposal eliminates the income or sales deduction up to $10,000 of property taxes paid

1.8 million New Jersey households deduct either income or sales taxes

1.6 million new Jersey households deduct property taxes

7th & 11th Congressional Districts would be the hardest hit in terms of number of taxpayers and overall dollars

Source: New Jersey Policy Perspective