#Good news! The IRS has extended the tax deadline to April 18th! As long as you submit your federal return by midnight on 4/18/2018, you won't be considered a late filer for your federal return. Direct debit tax payments that are submitted with your federal return (or on the IRS website) by 4/18 are also considered timely filed ×

What can I deduct for real estate taxes?

You can pay many different types of taxes, from federal and state income tax to state sales tax and – if you own real estate such as a home – state and local real estate tax.

If you own residential real estate, you can generally deduct local and state real estate taxes you paid on the property, whether it’s your primary residence, a vacation home or one you rent out.

Your situation must meet certain requirements for you to be able to deduct real estate taxes, including:

  • The tax must be assessed uniformly at a like rate on all the real property throughout the community levying the tax.
  • You paid the tax either at settlement or when you closed on the property, or during the year to the taxing authority.
  • Payments for the following items generally aren’t deductible as real estate taxes:
    • Taxes for local benefits or improvements that increase the value of your property.
      Itemized charges for services (such as trash and garbage pickup fees).
    • Transfer taxes (or stamp taxes).
    • Rent increases due to higher real estate taxes.
    • Homeowners' association charges.
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