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Property Tax Deductibility

February 08, 2017 • Jim Hundshamer • Log In to Post Comments

We are now requesting from our clients their actual property tax bills to see if non-deductible items are flowing through such as the HERO program. We see that there are other areas such as Voted Indebtedness and Direct Assessments. Are these areas able to be deducted as well? It seems that they are for the public welfare which is a requirement. Any information is appreciated!



I agree with your analysis.  Voted Indebtedness certainly is deductible because property taxes used for paying off local bonds and the like are deductible.  On the other one, Direct Assessments, you will have to determine whether the assessment effectively for the benefit of your client's property, also referred to as a local benefit.  If it is, then it is not deductible.


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