Top Tax Breaks On Owning Property #4

June 7, 2007

There’s no place like home to find shelter.  Home ownership offers a score of tax deductions and credits designed to help offset the cost of housing and to keep the housing market fueled with new buyers.   Here’s a look at the Top Tax Breaks.

Property Taxes:  Property taxes or real estate taxes are fully deductible.  Any local city or state property tax refunds reduces your Federal property tax deduction by the same amount.

*Everyone’s tax situation is different, visit the Internal Revenue Service’s site for more details or contact your CPA or tax preparer to verify that this applies to you.

Posted in All Things San Diego, Helpful Hints, Lending, Real Estate, Taxes, Things of Interest