Do you get more money back in your refund if you pay higher house taxes?
Fran M
Posted:
Member since
Re: Tax refund and owning a house question.
Generally yes, because your property taxes are fully deductible from your federal tax. But the amount of tax you pay depends on many factors so this is not 100 % of all cases.
Your accountant will be able to give you an idea of the tax differential.
Crisco718
Posted:
Member since
Re: Tax refund and owning a house question.
Property tax and mortgage interest are all tax deductible. I adjusted my w-4 so that I would bring home more money in my paycheck rather than wait for the tax refund. There are lots of calculators out there that will help you figure out the tax savings of owning a home.
