The One Big Beautiful Bill, signed into law on July 4, brings several tax changes with meaningful implications for real estate. SALT Deduction - Big Impact in High-Tax Areas The cap on the State and Local Tax (SALT) deduction rises from $10,000 to $40,000 through 2029, reverting in 2030. This enhanced deduction is available to households earning under $500,000, and phases out entirely around $600,000. For property owners in high-tax states like New York, New Jersey, and Calif