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Reply #98: Since property tax is part of your rent.. [View All]

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hughee99 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 04:54 PM
Response to Reply #96
98. Since property tax is part of your rent..
Edited on Thu Oct-13-05 05:01 PM by hughee99
And in massachusetts you can write off your rent on your state taxes, therefore you can deduct your property taxes on your state taxes. In Massachusetts anyway, your total tax burden would be less. In Texas, how do local governments collect most of their revenue, property taxes or sales taxes?

On edit: Did you see this line in my post above? "As a renter, he is not personally responsible for property taxes. Since his local "property taxes" would be included as part of his rent, and he can deduct that on a state level, he comes out ahead."
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