Our Clients Are Discussing
The SALT Tax Changes
In a move that could impact the financial landscape for many buyers and sellers, the recently passed One Big Beautiful Bill (OBBB) temporarily lifts the cap on State and Local Tax (SALT) deductions from $10,000 to $40,000 for the 2025 tax year. The change-which applies to state income and property taxes—offers meaningful relief for households earning up to $500,000 in adjusted gross income, with a gradual phase-out above that.
After 2025, the cap will rise modestly each year before reverting back to $10,000 in 2030. For high-income earners in areas with substantial property taxes (like many of our local waterfront neighborhoods), this expanded deduction could translate into thousands in federal tax savings —money that can go directly toward a down payment or offset the cost of moving.
For clients weighing timing or strategy, this new deduction may be just the incentive to act sooner rather than later. Contact us to discuss your potential next move.
