[quote=Vishon]One question about OP’s calculation. The tax saving of $900/month, is that before or after the property tax paid?
For the purchase price of $424k, at 1%, the property tax is $4240 or $353/month.
The tax saving should be corrected accordingly.
V[/quote]
I’m not sure what you’re asking. I’m saying that I think I’m getting about $900 in reduced taxes that I won’t get if I don’t own anymore (by interest and property tax deductions).
I saw another post that said add up your interest and property tax payment, multiply by 34%, and divide by 12 to estimate the tax savings. I think the 34% was a tax bracket guess for the poster’s income, which seems close to mine.
