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Are property taxes deductible?
Yes. Like the mortgage interest paid on a home loan, property taxes are fully deductible from your income. You may deduct them every year on your primary residence, second home and other investment properties.
However, escrow money held for property taxes cannot be deducted until the money is actually used to pay the property taxes.
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Looking for fresh, daily content for your blog, newsletter or website? REsource Real Estate Content Solutions provides access to thousands of RISMedia articles and videos starting as little as $9.95 per month! Visit resource.rismedia.com now and get publishing today!
RISMedia welcomes your comments and questions. Email realestatemagazinefeedback@rismedia.com.
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