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Charmed

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Posts: 369
Reply with quote  #1 
Wondering if anyone knows ... I bought a rental property in December 2011.  In 2012 I paid the property taxes for 2011 over the course of 10 months (our city lets us split it into 10 payments instead of paying it all at once).  Meanwhile, all of 2012 I was paying the mortgage with escrow and escrow paid the 2012 property taxes in December 2012.

So would I be able to deduct double property taxes on my 2012 return?
prin1113ci

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Reply with quote  #2 
Property Tax is the principal source of revenue for Urban Local Bodies in virtually every part of the world .


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shwetamishra

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Reply with quote  #3 
I am not sure in fact what is the solution but it depends on the law. Where you have bought property i would like to know the place.
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shagydeep

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Reply with quote  #4 
Hello,
You know at our residence we are not paying property tax. Means it has been stooped from many years ago...
propertymanager

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Reply with quote  #5 

I’m not sure that you can do that. But you can verify this information just asking a lawyer or reading local rules. You know, it’s rather difficult to tell you as laws can vary from one state to another. 


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CarmenPage

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Reply with quote  #6 
Same here i am not sure cause it is depends on the law ,lately i been researching about debt collection agencies or perintätoimisto cause i am planning to borrow some money to have my own property.
NoNonsenseLandlord

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Reply with quote  #7 
Yes, if you paid the taxes, you can deduct them the year you paid them.  Whether you pay forward, or back taxes.
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