March 12, 2018 -- New homeowners in Santa Monica are estimated to be among the hardest hit in California by a reduction in mortgage deductions in the new federal tax code, according to an organization tracking the ups and downs of the law.

In Santa Monica, homeowners subject to the Tax Cuts and Jobs Act of 2017, signed into law by President Trump in December, will lose between $4,300 for the least expensive homes to $16,200 for the costliest homes.

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