High Tech States News Today

The state and local tax deduction. >> jon: you think this can motivate some of the higher tech states, new york, california, new jersey, to revamp their tax system? >> i think starting january 1, we will have 50 state tax debates. number one, each state has to decide how its going to conform to the federal tax system. a lot of states link their tax systems to that federal tax code, they will have to figure out what areas of the new federal system they will conform their local tax system to come ...

Local tax deduction, sending those with high tech states like new york and scrambling to prepay the 2018 property taxes before years end. present of the tax foundation there has been a lot of concern and questions about what happens to the taxpayers in state and local taxpayers. people who are paying fairly high taxes, but will not be able to deduct as many of those taxes from the federal income tax. are the taxpayers going to get burned? >> it appears that a lot of these folks are going to face...

Reprieved from this at the end of the day anyway. >> jon: are the politicians and those high tech states going to take notice? will they be hearing from their constituents, or our constituents going to take out their anger on people at the federal level, president trump and the republican-led congress? >> i think we already seen at the state level to start to change their tax code. in fact, the new governor of new jersey, proposing a millionaires tax has rescinded that and said, i think we need ...

A better tax climate for their job. >> jon: does it hurt property value in the high tech states? if you cannot deduct as much of what your pain and taxes, and that will hurt property values, isnt it? >> at the end of the day, we will see some of those property values come down. actually, a lot of the price of those taxes get built into the price of the home. in some cases, those homes will become much more affordable to entry-level buyers. as i say, those property taxes get built into the price ...