Questions on Trump Tax plan impact on Property Taxes on Invest

[Robert Bolejszo]

Hello - I was wondering if someone has a better understanding on the changes that are happening under the new Trump tax plan. I'm specifically curious to the limitations of property taxes and wanted to see if they apply to real estate investors. Would I be subjected to the 10k local/state tax limitation? (or whatever the limitation would be)

My current situation:

I currently own two 4 family investment properties that I get rental income from both. One is under a LLC and one is a sole proprietorship - the property taxes I pay is 14k on one and 15k on the second one. (Both properties are located in NJ)

Just a side note: I do not own a primary residence, as I rent for my current living arrangements.

Question:

Under the new Trump tax plan will there be limitations to how much of my property taxes that i can deduct towards my rental income. Or I will be able to deduct the full amount and won't be impacted by the tax plan. Questions 2: Does one property being in a LLC and the other being a sole proprietorship have any impact?