Tax Savings Calculator
One of the biggest financial advantages of homeownership is the tax benefits. Use Lisa Copeland's calculator to see how much you could save on taxes by buying a home instead of renting.
Section 1
See the true cost of renting and what you are missing in tax benefits.
You will spend $0 on rent over 10 years with ZERO tax benefits.
Section 2
Enter your target home details to see your mortgage breakdown and deductible expenses.
Texas average: ~2.1% (adjust based on your city)
State: Texas (no state income tax)
Section 3
See how much you could save on federal income taxes by itemizing mortgage deductions.
Based on 2025-2026 federal brackets. Single: 10%-37%, Married: 10%-37%
YOUR TAX SAVINGS
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per year
5 Year
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10 Year
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30 Year
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Tax Benefit Comparison (Annual)
Cumulative Tax Savings Over Time
Section 4
Texas offers unique tax advantages that make homeownership even more compelling.
Texas is one of 9 states with no state income tax. This means every dollar you earn goes further towards your mortgage and investments. Compared to states with 5-10% income tax, Texas homeowners save thousands annually.
Texas homeowners can reduce their home's taxable value by up to $100,000 through the homestead exemption. For a $350,000 home at 2.1% tax rate, that saves approximately $2,100 per year.
Homeowners aged 65 and older receive an additional $10,000 reduction in taxable value on top of the general homestead exemption. Combined with school tax freezes, this can mean significant savings in retirement.
Texas homeowners save an average of $0 per year with the homestead exemption.
Section 5
See the full financial picture side by side.
The difference: $0 in wealth building over 10 years
10-Year Wealth Building Comparison
Section 6
See how your mortgage payments shift from interest to principal over time.
| Year | Interest Paid | Principal Paid | Total Equity |
|---|---|---|---|
| Year 1 | $0 | $0 | $0 |
| Year 2 | $0 | $0 | $0 |
| Year 3 | $0 | $0 | $0 |
| Year 4 | $0 | $0 | $0 |
| Year 5 | $0 | $0 | $0 |
| Total equity built (5 yrs) | $0 |
Your Personalized Summary
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Tax savings over 10 years
$0
Equity built over 10 years
$0
Total financial advantage of buying
That is $0 per year in wealth you are building instead of giving to your landlord.
Lisa Copeland helps first-time buyers every day. As a financial expert with $5B+ in career sales, she will help you understand your tax advantages and find the right home for your future.
The Real Cost
When you rent, you are paying someone else's mortgage with zero tax benefit. Here is what that really costs you.
No Mortgage Interest Deduction
Homeowners deduct mortgage interest on loans up to $750,000. Renters get nothing. On a typical $350K home at 6.5%, that is ~$22,500 in deductible interest Year 1.
No Property Tax Deduction
Property taxes are deductible up to the $10,000 SALT cap. Renters pay property tax through their rent but cannot deduct it. That is lost savings every year.
No Equity, No Wealth
Every rent dollar is gone forever. Every mortgage dollar builds equity. Over 10 years at 3% appreciation, a $350K home gains over $120K in value.
Tax Guide
Deduct interest on up to $750,000 of mortgage debt for your primary residence. This is your biggest tax benefit as a homeowner.
Deduct up to $10,000 in state and local taxes (property tax + state income tax combined). Since Texas has no income tax, this cap is for property taxes only.
Mortgage points paid at closing are deductible in the year you purchase your home. Each point (1% of loan amount) is typically deductible.
Private mortgage insurance premiums may be deductible through 2025 for qualified borrowers making under certain income limits.
When you sell your primary residence, the first $250,000 of gain ($500,000 married filing jointly) is tax-free if you have lived in the home 2 of the last 5 years.
Her Process
Lisa personally reviews your financial picture including credit, income, and goals. She identifies tax savings opportunities and connects you with a trusted lender.
Lisa curates homes that fit your budget and goals, schedules showings, and helps you find the right property with the best long-term tax and equity potential.
From offer to close, Lisa negotiates on your behalf and guides you through every step. She stays in touch for years, helping with tax questions, referrals, and future moves.
Disclaimer
This calculator provides estimates only based on the information you entered. Tax laws, brackets, and deductions are subject to change. The figures shown do not constitute financial or tax advice. Consult a qualified tax professional for personalized advice regarding your specific tax situation. Lisa Copeland is a real estate agent, not a tax advisor or CPA.
Whether you are buying, selling, investing, or exploring options, the best negotiator in Central Texas is ready to put $5B+ in career experience to work for you.
Office
Lisa Copeland
210 E. Central
Belton, TX 76513
License
TX Salesperson #733507
Lisa Copeland's Team
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