Every blog article within Orlando LGBT Real Estate Pages touches on some aspect or interest related to real estate within the LGBT community. Whether it's a story on a new listing or a restaurant in a great neighborhood, flipping stories, remodeling, purchasing properties, decorating, etc., my articles will focus on two things I enjoy most: houses and the gay and lesbian community.
Monday, May 18, 2015
Buying VS Renting: Which Type Of Financial Benefits Do Homebuyers Get That Renters Don't? Part 2.
Buying VS Renting: Part 2 of Series.
Property Tax Deduction
Did you know that homeowners pay taxes to their local jurisdictions, such as
the county, city, or school district? Did you know those property taxes are fully deductible?
Whether it's a $750,000 owner occupied home in Thornton Park, Orlando, or a $300,000 rental condo in Boys Town, Chicago, all property owners (landlords and regular homeowners alike) take advantage of this important deduction.
Unfortunately, renters aren’t eligible for this property tax deduction since it's only offered to property owners, not renters.
Landlords don't own rental properties because they enjoy late night phone calls about the over flowing toilet or broken AC, they own rentals because YOU, the RENTER, through your monthly rent payments, indirectly pay the landlords taxes and mortgage payment...while he/she gets all of the deductions!
PT. 1 Mortgage Interest Tax Deduction Article May 6, 2015.