Are real property tax refunds, due to over assessment, taxable income?

reinwalda001 · ‎June 4, 2019

MinhT · ‎June 4, 2019

Property tax refunds are not considered as income. They represent a reduction of property taxes paid. If you did not itemize your deductions, then you do not need to report these refunds on your tax return,

If you itemize your deductions, then you reduce the amount claimed as property taxes by the amount of the refunds.

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View solution in original post

MinhT · ‎June 4, 2019

Property tax refunds are not considered as income. They represent a reduction of property taxes paid. If you did not itemize your deductions, then you do not need to report these refunds on your tax return,

If you itemize your deductions, then you reduce the amount claimed as property taxes by the amount of the refunds.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Are real property tax refunds, due to over assessment, taxable income?