The latest SALT deduction change could mean thousands in tax savings for small businesses. But it’s won’t be a permanent staple. President Trump’s new tax law means a fourfold increase to a tax perk that could benefit entrepreneurs operating in high-tax states.

For the next five years, there will be a much more generous state and local tax deduction available to federal income tax filers, thanks to the recently enacted mega tax-and-spending-cuts law.

The new tax law hiked the SALT deduction cap to $40,000. That’s good news for taxpayers in high tax states, but it’s a temporary boost.

The deduction is rising to at least $40,000, from its current $10,000 limit. That amount will increase each year through 2029, and then it will revert to a $10,000 cap. The new law also says only people below certain income limits can claim the full SALT write-off.

A new $40K SALT cap could deliver long-awaited tax relief to homeowners in high-cost states like NJ, NY, and CA by cutting their tax burden.

Goldman Sachs analysis finds higher SALT deduction caps unlikely to prevent high-income households from moving from high-tax states to low-tax states amid rising interstate migration.

Property taxes have climbed over the past several years. The amount a homeowner can deduct on their federal taxes is rising, too—but not everyone who shouldered a property tax increase will see the same benefit.

The tax hike would help the Jordan Valley Water Conservancy District meet the growing demand that comes with the county’s growing population, agency CEO Alan Packard said. Over the next five years, the district has planned $210 million in projects to establish new wells and expand treatment plants in Salt Lake Valley suburbs.