New York could stand to lose more than $67 billion in state and local tax deductions if they are eliminated by congressional tax reform legislation, Comptroller Tom DiNapoli found in a report released Wednesday.

“The stakes are high for New Yorkers if these changes are made to the federal tax code,” DiNapoli said. “There is a distinct possibility that President Trump’s plan will hurt New York’s middle class taxpayers and working families and give a windfall to the wealthiest among us. We really need more clarity on the specifics of the plan to fully assess its impact on New York.”

New York taxpayers in 2014 reported $47.3 billion in itemized deductions for the state’s counties and $20.2 billion in deductions for property taxes that same year. That represents 13.5 percent of all state and local tax deductions in the U.S.

Eliminating local tax deductions is expected to hit states with high property taxes, like New York, New Jersey and California, the hardest.

The bulk of the itemized deductions in New York took place downstate in Suffolk, Westchester, Rockland, Staten Island, Manhattan and Dutchess counties.

State officials on both sides of the aisle have raised concerns with the impact of eliminating deductions on property taxpayers.

Federal Tax Reform by Nick Reisman on Scribd