Tax Day is here again, and while that might strike fear in the hearts of some last-minute tax filers, the National Association of Realtors® is reminding homeowners that they can still count on a few significant tax advantages. Those include the mortgage interest deduction, as well as the deduction for state and local real estate taxes.
According to NAR data, the average taxpayer saved $2,173 in 2014 by claiming the mortgage interest deduction. That same year, homeowners deducted $178 billion in state and local estate taxes.
Happy Tax Day, homeowners!
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.
Information about NAR is available at www.nar.realtor.