Paid close to 3000 in property tax for my home in FL.. Do I get some deductions for that

[maracella3]

I own a home . Don't have a mortgage . I pay property tax. Do I get something back

[Hal_Al]

Q. Paid close to 3000 in property tax for my home in FL.. Do I get some deductions for that?

A. No.  More accurately, almost certainly no.

Real estate (property) tax is allowed as an itemized deduction. But, you only get a deduction if all your itemized deductions exceed your standard deduction. With the doubling of the standard deduction in 2018, very few people without the mortgage interest deduction, get to itemize. 

[Vanessa A]

Not likely.  If you don't have a mortgage and pay mortgage interest, you would still need to have other itemized expenses that are over $13,850 (if your single or $27,700 if married filing joint) to get any benefit from your property taxes.  

Itemized expenses include mortgage interest, state and local taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss.  Your health insurance and all medical expenses are only deductible for the amount that is over 7.5% of your AGI.  This means if your AGI is $50,000, then the amount that is over $3,750 is deductible.  

Then your total itemized expenses would need to be greater than your standard deduction below in order to benefit from your property taxes. 

The 2023 Standard Deductions are as follows:

• Married Filing Joint (MFJ)              $27,700
• Married Filing Separate (MFS)      $13,850
• Head of Household (HOH)             $20,800 
• Single                                                     $13,850                                

Blind and MFJ or MFS add $1,500

Single or HOH if blind add $1,850