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Almost 36 million taxpayers claimed the deduction in 2003, according to the most recent statistics compiled by the home equity loan kentucky Revenue Service. The President's Advisory Panel on Federal Tax Reform urged the administration to do away with the deduction and replace it with a credit worth 15 percent of interest paid during the year. They would scrap the deduction for property taxes, too. If enacted, mortgages eligible for home equity loan kentucky tax break would be limited by a formula reflecting
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