Why am I not getting any refunds from my Property tax this year?

[MichaelMc · Accepted solution]

There is more than one possible answer to your question.

If you are already itemizing your deductions, it is possible that you have already reached the cap imposed on the state and local income tax, property tax, and sales tax deduction. While previously unlimited, the Tax Cuts and Jobs Act of 2017 imposed a cap of $10,000 on such taxes beginning with the 2018 tax year. If you already have state and local income taxes of $10,000 or greater, your property taxes will not change your itemized deductions or your refund.

It is also possible that you may be benefiting from the new, increased Standard Deduction in 2018.

For 2018, the increased Standard Deduction amounts for all filers are:

• Single or Married filing separately—$12,000.

• Married filing jointly or Qualifying widow(er)—$24,000.

• Head of household—$18,000.

If your total itemized deductions, including your property tax, do not exceed your Standard Deduction, you are already getting the benefit of the Standard Deduction, and your property tax will not change your refund.