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Deductions & credits
It depends on the nature of the foot fee.
- fees charged for local benefits or improvements that tend to increase the taxpayer’s property value (such as construction of streets, sidewalks or water and sewer systems) are not deductible.
- fees charged to meet maintenance or repair costs or interest charges for the local benefit are deductible as property taxes because such expenditures do not tend to increase property values.
June 4, 2019
8:57 PM