San Francisco Chronicle: New SALT cap means savings for California homeowners. Here’s how much

Steve Wamhoff, director of federal tax policy for the Institute on Taxation and Economic Policy, said his organization’s analysis found less SALT savings for Californians than Redfin reported. He ran the new SALT rules through ITEP’s tax microsimulation model, which uses a database of taxpayer and census records to create a computer model of state and federal taxpayers. The analysis found the average California homeowner would save $1,240 — “significant but less than the $4k claimed by Redfin,” Wamhoff said.

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