Bill would expand property tax deductions

If measure passes, even homeowners who don't itemize would be eligible for benefit

Chillicothe Gazette
Homeowners who normally can't deduct their local and state property taxes on their federal return might have the opportunity to do so if new legislation is approved.
U.S. Sen. Sherrod Brown is a co-sponsor of the Homeowner Tax Fairness Act, which would benefit homeowners for whom it isn't worth it to itemized deductions on their tax return.
"We can provide property tax relief to Ohioans by allowing homeowners -- even those that don't itemize their federal income tax returns -- to take the full deduction of their state and local property taxes," Brown said. "At a time when property tax valuations have often failed to keep pace with changing home values, allowing homeowners to deduct the full cost of their property taxes would help put more money in pockets of Ohio families."
To read the rest of the article, click on the source link above.

Homeowners who normally can't deduct their local and state property taxes on their federal return might have the opportunity to do so if new legislation is approved.

U.S. Sen. Sherrod Brown is a co-sponsor of the Homeowner Tax Fairness Act, which would benefit homeowners for whom it isn't worth it to itemized deductions on their tax return.

"We can provide property tax relief to Ohioans by allowing homeowners -- even those that don't itemize their federal income tax returns -- to take the full deduction of their state and local property taxes," Brown said. "At a time when property tax valuations have often failed to keep pace with changing home values, allowing homeowners to deduct the full cost of their property taxes would help put more money in pockets of Ohio families."

To read the rest of the article, click on the source link above.

 

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