Did you report nondeductible taxes on your 2011 return?
No (79%, 41 Votes)
Yes (21%, 11 Votes)
Total Voters: 52
This article examines the FTB’s recent attempt to enforce property tax deduction limitations for 2012 state tax returns – and the backlash from the IRS and some members of the California Assembly.
California presently conforms to federal income tax deductions for property taxes, allowing deductions for ad valorem taxes paid by homeowners. Ad valorem taxesReal estate taxes imposed on property based on its assessed value. areset based on property values determined by county assessors.
However, many homeowners get away with taking deductions based on that the total payment made each year to the county tax collector, which often includes other monetary obligations,such as:
improvement district assessments;
Mello-Roos bonded indebtedness; and
direct levies, fees and charges that are clearly not ad valorem taxesReal estate taxes imposed on property based on its assessed value..
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