How do i calculate the property tax i paid?
I have a Form for: 1.) Town & County, 2.) Village, 3.) School.
Do i add all 3 together for this? I have looked everywhere and all i find is calculators, but not a straight answer. If this is what i need, i can hopefully finish my taxes with this.
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Yes, if they are all taxes based on the value of your home, you will add together the total amount paid in 2018.
Some items may be for a specific benefit to your property or street that is not general to the entire community, like a special assessment for streetlights only on your street. These are technically not deductible as property taxes.
However, any items that are of general benefit to the community (money for the general fund, including separate lines listing specific programs that benefit all similar properties) are deductible taxes.
Regarding the need for taxes to be based on the value of the home (ad valorem) and not a flat fee to be deductible, this is the usual tax advice but it is not correct. Under the tax code, any property tax is deductible, even if a flat fee, as long as it provides a general benefit to all similar homes in the community. (There is a revenue ruling on this that arose from a dispute between the IRS and the state of California over the deductibility of flat rate Mello-Roos tax assessments,)
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