The mortgage interest deduction is a popular tax benefit for homeowners, and those in Maricopa County collect the most in Arizona.
Homeowners who itemize taxes can deduct the interest paid on mortgage debt up to $1 million. The Tax Foundation, a Washington D.C.-based think tank, examined data for counties across the country and found wealthy communities are more likely to itemize returns and deduct the most interest.
Loudoun County, Virginia topped the nation, averaging more than $6,300. Maricopa County, Arizona averaged more than $2,200. The lowest mortgage interest deduction in Arizona was in Apache County at less than $400.
Using data from the U.S. Census Bureau, the Federal Reserve reported the nation’s homeownership rate at 63.7 percent as of July 27, 2017.
(Map courtesy of Tax Foundation)
