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Investments glossary

Property Tax Deduction


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Quotes of the day:

Not all treasure is silver and gold, mate.

— Johnny Depp, Pirates of the Caribbean

State and local property taxes are generally eligible to be deducted from a property owner’s federal income taxes, creating the property tax deduction. Deductible real estate taxes include any state, local, or foreign taxes that are levied for the general public welfare. They do not include taxes charged for home renovations or for services like trash collection.

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