Republicans have reached a preliminary agreement on their tax bill, meaning the US tax code could soon be overhauled.

The tax bill would limit the property tax deduction to $10,000 a year; currently, homeowners can deduct their property tax in full.

We compiled a list of the places where homeowners and prospective homebuyers are likely to be hit hardest if the tax bill is enacted.



House and Senate Republicans on Wednesday came to a preliminary agreement on their final tax bill.

The bill could affect current and future homeowners in a few different ways, including by capping the deduction for state and local property taxes at $10,000. Under the current tax system, there is no cap on the amount of property taxes a homeowner can deduct.

As part of its latest housing report, Trulia identified the top metro areas in the US with the greatest share of homeowners who pay $10,000 or more in property taxes annually. It's these places where homeowners and prospective homebuyers are likely to be hit hardest if the tax bill is enacted.

New Yorkers would be hit especially hard. In each of three New York area metros — New York City, Newark, Long Island — more than one out of every five households pay at least $10,000 annually in property taxes.

For each metro, Trulia also calculated the effective property tax rate paid by homeowners in 2016, according to data from the American Community Survey. Business Insider used that rate to estimate the minimum home value at which the annual property tax bill would be at least $10,000.

Here are the 11 worst places to buy a home if the GOP tax bill passes — with the largest share of homeowners who pay more than $10,000 in property taxes.