New Federal Tax Laws Drive Population Growth in Georgia, Other Lower Tax States

Recent estimates of population growth around the country show an increase in migration from high tax states such as New York, California, and Illinois to lower tax states including Georgia. Economists believe that last year's tax reforms, which capped home mortgage interest deductions as well as federal tax deductions for state and local taxes, are fueling the increase. The tax reforms limit the amount of state and local taxes that can be deducted to $10,000 per year, effectively increasing the cost of living in high tax parts of the country.

Buying a new Georgia home or refinancing an existing home mortgage loan? Contact Peachtree Mortgage Services, Inc. at peachmtg@bellsouth.net to discuss our easy home mortgage application process and our low home mortgage interest rates.


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.