money  taxes


Question by  lee63 (51)

How much do you get back on taxes for property and mortgage interest tax?

Or is it a percentage?


Answer by  LegalGirl (183)

This is a fairly loaded question, Laws and statues vary on a place by place basis. You'll need to contact your local state legislator or municipal court to verify the allowances in place per county. In addition, laws change year by year, so make sure you keep up to date.


Answer by  Chaneygirl (1755)

It is a percentage. If you are in the 15% bracket, you would potentially get back 15% (roughly). You have to be able to itemize in order to receive any benefit. There is a deduction for real estate taxes of $500-1000 available (depending on the amount and your filing status), even if you don't itemize.

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