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during 2021, belen paid the following taxes: property taxes on residence (paid from escrow account) $ 1,550 property tax portion of car registration (based on value) 400 property taxes on land held for long-term appreciation 350 what amount can belen deduct as property taxes in calculating her itemized deductions for 2021?

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khuranashilpa76

$ 2,300

Itemized Deduction For 2017

All of the above are included in Itemised Deduction

Taxes on residency + Tax portion of registration +Property tax on land for  long-term appreciation

$1,550+$400 +$350 = $2,300  

Property tax is a tax paid on property owned by an individual or other legal entity, such as a corporation. Most commonly, property tax is a real estate ad-valorem tax, which can be considered a regressive tax. It is calculated by a local government where the property is located and paid for by the owner of the property.

Texas has no state property tax. All property is appraised at full market value, and taxes are assessed by local county assessors on 100% of appraised value.

Learn more about Property tax here

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