No more property tax break


#1

The bill that just went through congress that kept the Bush tax cuts had some spoilers within it.

It seems one can not take your real estate taxes off if you do not itemize your deductions. As most people do not this is in effect a tax increase.

Obama has been trying to eliminate any offsets so that one is fully taxed even on provided insurance and other"perks" for working for a business.


#2

I was never able to take my property taxes off without itemizing. I can’t remember it ever being available. For a short time, you could take off charitable giving without itemizing (I think Reagan did that one) but it didn’t last long.


#3

I was never allowed to claim property taxes on my fed tax because my itemized deductions were always less than the standard deduction. I have always been able to claim them on my state taxes. However, I only pay $250 per year for property taxes.


#4

So now the dollars we earn (that are taxed when we earn them) are also going to be counted as taxable income even if we must pay them to the State for Tax on property that we own.

This is wrong on so many levels.


#5

Property taxes are unconstitutional.