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fecting Virginians this year include:
• Most of the tax rates have been reduced for 1988. There are only two rates: 15 and 28 percent. Higher income individuals will have the lower rate phased out.
• An increased deduction for each exemption from $1,900 to $1,950 per exemption.
• An increased standard deduction for most people. Because of this, it may be more beneficial to take the standard deduction rather than itemizing deductions.
• Home mortgage interest rules have been changed. Most individuals
93.1%