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agent57
Returning Member

Deduction for VT property tax

My VT town property tax bill has a TotalTax line.

From that they deducted the sum of the homestead rebate plus a previous year's state tax refund which I opted to apply to the next year's property taxes; that results in the Net tax due.


Which line on the town tax bill is entered as a deduction for federal taxes -  Total Tax or Net Tax?

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3 Replies

Deduction for VT property tax

What is the amount you actually paid? You cannot deduct more than that figure.

agent57
Returning Member

Deduction for VT property tax

Even if part of the deduction was a refund from a state return of the previous year?  by telling the state to apply my refund to my property taxes, didn't I pay that amount?

Vanessa A
Employee Tax Expert

Deduction for VT property tax

If you chose to have a refund of your state income tax applied to your property taxes, you would include the amount of the refund that was applied to your property taxes in the amount paid.  So the cash/check you wrote for your property taxes, plus the refund you had sent to pay your property taxes would be the total you would enter as property taxes paid. 

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