Is there a income “phase-out” for claiming either the property tax deduction and/or mortgage interest deduction? If so, what is the cut-off amount and has it changed?

You can claim an itemized deduction for the interest up to $750,000 of mortgage debt that is used to acquire or improve your new residence, or $375,000 if you use married filing separate status. These limits apply for 2018-2025. Under prior law, the debt limits were $1 million and $500,000. Plus under prior law, you could also deduct the interest on up to $100,000 of home equity debt, or $50,000 if you used married filing separate status, regardless of how you used the loan proceeds. For 2018-2025, you can only deduct interest on home equity debt that is used to acquire or improve your residence, subject to the overall $750,000/$375,000 limit.

You can claim an itemized deduction for state and local real property taxes. However for 2018-2025, you cannot deduct more than $10,000 for state and local property and state and local income taxes combined, or $5,000 if you use married filing separate status.