LA County Information

County of Los Angeles
Department of Consumer Affairs
New Consumer Laws 2007

DCA
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Property Taxes: Private Mortgage Insurance Premium Deductions Allowed

US Tax Code

Current law does not allow borrowers to deduct PMI premiums from their income taxes.

This law lets borrowers deduct PMI premiums if they have an adjusted gross income under $100,000, itemize deductions on their tax return, and the mortgage closes in 2007. This law allows PMI premium deductions only in 2007, though the law may be renewed.

May be reprinted for non-commercial use if a credit line is included acknowledging the County of Los Angeles Department of Consumer Affairs.

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For more information:
County of Los Angeles Department of Consumer Affairs
B-96 Kenneth Hahn Hall of Administration
500 W. Temple Street * Los Angeles, CA 90012-2706
Telephone (800) 593-8222 (within the County) * (213) 974-1452
web site: dca.lacounty.gov