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  2. The 6 Most Important Tax Deductions You Need to Claim - AOL

    www.aol.com/finance/6-most-important-tax...

    For tax purposes, use the ad valorem number, which is the assessed value of real estate or personal property. The maximum deduction you can claim for all state and local taxes, including real ...

  3. Home mortgage interest deduction - Wikipedia

    en.wikipedia.org/wiki/Home_mortgage_interest...

    The Tax Foundation, by contrast, argues that few low- and middle-income taxpayers benefit from the deduction, [38] calling it a subsidy for the real estate industry. [39] Alan Mallach, a senior fellow at the Center for Community Progress and a visiting scholar at the Federal Reserve Bank of Philadelphia, argues that the deduction artificially ...

  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. Property tax in the United States - Wikipedia

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

    The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year.

  6. Somerset County property transfers for the end of April ... - AOL

    www.aol.com/somerset-county-property-transfers...

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  7. Ad valorem tax - Wikipedia

    en.wikipedia.org/wiki/Ad_valorem_tax

    A property tax, millage tax is an ad valorem tax that an owner of real estate or other property pays on the value of the property being taxed. Ad valorem property taxes are collected by local government departments (examples are counties, cities, school districts, and special tax districts) on real property or personal property.

  8. What Somerset County Commissioners propose: Will taxes ... - AOL

    www.aol.com/somerset-county-commissioners...

    In its second year at the Somerset County's helm, the board of commissioners plan to keep the same taxes for residents in 2025.

  9. Payment in lieu of taxes - Wikipedia

    en.wikipedia.org/wiki/Payment_in_lieu_of_taxes

    [5] [6] Federal PILTs were introduced by the Payments in Lieu of Taxes Act of 1985 and PILTs by the Government of Ontario were introduced by the Municipal Tax Assistance Act of 1990. [4] [7] [8] PILTs are made on a volunteer basis, leading situations where local governments receive smaller payments than requested based on property tax ...

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