Solved: Can I deduct Real Estate taxes
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drhoyle4
New Member

Can I deduct Real Estate taxes

 
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Phillip1
New Member

Can I deduct Real Estate taxes

Yes. Generally, you can deduct real estate taxes. The following rules apply:

  • Deductible real property taxes include any state, local, or foreign taxes based on the value of the real property and levied for the general public welfare.

  • Deductible real property taxes don't include taxes charged for local benefits and improvements that increase the value of the property, such as assessments for sidewalks, water mains, sewer lines, parking lots, and similar improvements.

  • An itemized charge for services to specific property or people isn't a real property tax, even if the charge is paid to the taxing authority. You can't deduct the charge as a real property tax when it's a unit fee for the delivery of a service (such as a $5 fee charged for every 1,000 gallons of water you use), a periodic charge for a residential service (such as a $20 per month or $240 annual fee charged for trash collection), or a flat fee charged for a single service provided by your local government (such as a $30 charge for mowing your lawn because it had grown higher than permitted under a local ordinance).

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1 Reply
Phillip1
New Member

Can I deduct Real Estate taxes

Yes. Generally, you can deduct real estate taxes. The following rules apply:

  • Deductible real property taxes include any state, local, or foreign taxes based on the value of the real property and levied for the general public welfare.

  • Deductible real property taxes don't include taxes charged for local benefits and improvements that increase the value of the property, such as assessments for sidewalks, water mains, sewer lines, parking lots, and similar improvements.

  • An itemized charge for services to specific property or people isn't a real property tax, even if the charge is paid to the taxing authority. You can't deduct the charge as a real property tax when it's a unit fee for the delivery of a service (such as a $5 fee charged for every 1,000 gallons of water you use), a periodic charge for a residential service (such as a $20 per month or $240 annual fee charged for trash collection), or a flat fee charged for a single service provided by your local government (such as a $30 charge for mowing your lawn because it had grown higher than permitted under a local ordinance).

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