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  2. Are Property Taxes Deductible? - AOL

    www.aol.com/property-taxes-deductible-224345757.html

    The 2017 Tax Cuts and Jobs Act limits the deduction for state and local taxes, including property, income and sales taxes, to $10,000 per year. If you need to deduct more than $10,000 on your tax ...

  3. 2020 California Proposition 15 - Wikipedia

    en.wikipedia.org/wiki/2020_California_Proposition_15

    This led to a 60% decrease in property tax revenue collected by local governments the year after Proposition 13 was passed, [6] and forced local authorities in California to subsequently rely on sales taxes, which are more regressive, [7] as well as on state government funding originating from California's personal income tax, which is more ...

  4. State and local tax deduction - Wikipedia

    en.wikipedia.org/wiki/State_and_local_tax_deduction

    The Revenue Act of 1964 restricted the SALT deduction to state and local taxes on real property, personal property, income, general sales, and gasoline and other motor fuels. [17] Amid the 1970s energy crisis, Congress passed the Revenue Act of 1978, which eliminated the deduction for state and local taxes on gasoline and motor vehicle fuel.

  5. Taxation in California - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_California

    There is an additional 1% tax (the California Mental Health Services Act tax) if your taxable income is more than $1,000,000, which results in a top income tax rate of 13.3% in California which is the highest statewide income tax rate in the United States. [42] The standard deduction is $4,601 for 2020. [43]

  6. The Best Tax Deductions and Tax Breaks for 2023-2024 - AOL

    www.aol.com/most-americans-think-taking-entitled...

    Local and state real estate taxes based on the value of the property. Foreign, local and state income taxes ... The standard deduction amounts for tax year 2023 are as follows: Single filers: $13,850.

  7. How To Tell If You Can Deduct Your Property Taxes - AOL

    www.aol.com/finance/tell-deduct-property-taxes...

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  8. Property tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Property_tax_in_the_United...

    Various economic factors have led to taxpayer initiatives in various states to limit property tax. California Proposition 13 (1978) amended the California Constitution to limit aggregate property taxes to 1% of the "full cash value of such property." It also limited the increase in assessed value of real property to an inflation factor that was ...

  9. Is Rent Tax Deductible? - AOL

    www.aol.com/rent-tax-deductible-184415469.html

    While homeowners can deduct property taxes and mortgage interest during tax season, ... In California, you can receive up to $60 if you’re single or married and filing separately, or $120 if you ...

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