TODAY'S PAPER
34° Good Evening
34° Good Evening
ClassifiedsReal Estate

10 housing markets that will be hardest hit if the GOP tax plan passes

Long Island's housing market has been hot in recent months, with home prices rising due to a shortage of inventory forcing buyers into bidding wars. That could be changing soon, however, experts say.

The latest version of the GOP tax overhaul bill places a cap on property tax deductions at $10,000. Should this overhaul become law, it could lead to a cooling of some of the most expensive housing markets, according to analysts at real estate website Trulia.

Long Island wouldn't be alone, but it would be at the top of the list of places with homes most affected by the new property tax deductions cap. Here are the nine other markets that Trulia says would be affected.

10.) Cambridge, Mass.

Percentage of households with property tax bills above
Photo Credit: AP / Charles Krupa

Percentage of households with property tax bills above $10,000: 10.8%
Median property tax bill: Less than $5,000

9.) Austin, Texas

Percentage of households with property tax bills above
Photo Credit: AP / Harry Cabluck

Percentage of households with property tax bills above $10,000: 11.4%
Median property tax bill: Less than $5,000

8.) Chicago

Percentage of households with property tax bills above
Photo Credit: AP / Kiichiro Sato

Percentage of households with property tax bills above $10,000: 11.8%
Median property tax bill: $5,787

7.) Boston

Percentage of households with property tax bills above
Photo Credit: AP / Michael Dwyer

Percentage of households with property tax bills above $10,000: 12.4%
Median property tax bill: $4,999

6.) San Jose, Calif.

Percentage of households with property tax bills above
Photo Credit: AP / Jeff Chiu

Percentage of households with property tax bills above $10,000: 18.0%
Median property tax bill: $5,558

5.) San Francisco

Percentage of households with property tax bills above
Photo Credit: AP / Marcio Jose Sanchez

Percentage of households with property tax bills above $10,000: 19.9%
Median property tax bill: $5,555

4.) Fairfield County, Conn.

Percentage of households with property tax bills above
Photo Credit: AP / Douglas Healey

Percentage of households with property tax bills above $10,000: 20.6%
Median property tax bill: $6,133

3.) New York City

Percentage of households with property tax bills above
Photo Credit: AP / Mark Lennihan

Percentage of households with property tax bills above $10,000: 22.7%
Median property tax bill: $6,574

2.) Newark, N.J.

Percentage of households with property tax bills above
Photo Credit: AP / Mike Derer

Percentage of households with property tax bills above $10,000: 33.7%
Median property tax bill: $8,391

1. Long Island

Percentage of households with property tax bills above
Photo Credit: AP / Kathy Kmonicek

Percentage of households with property tax bills above $10,000: 46.5%
Median property tax bill: $9,677

More news