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Reduce Property Taxes Article
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Reduce Your Taxes This Year
from:We’re all looking for ways to save money. And, one of the best places to look for savings is in your taxes. There are lots of ways to reduce your taxes; so make sure that you’re taking advantage of each and every one that’s available.
Reduce your taxes by making your home energy efficient. When it’s time to make home improvements, be certain that you’re making energy efficient ones. Not only will buying, let’s say, an energy efficient hot water heater save you money on your utility bill each month, but if you purchase a hot water heater that is Energy Star rated, you’ll reduce your taxes in the year you purchase it, as well. Energy Star is a government program for rating the energy efficiency rating on products. So, be certain when you purchase large appliances, or other things like replacement windows, that they come with the energy star rating. Save your receipts and use them when you file your taxes to figure the deduction. The deduction is typically 10% of the cost of the appliance; for replacement windows the maximum deduction is $200.
Make your home solar - You to claim a credit for 30% of the cost of installing solar water-heating, photovoltaic, or fuel-cell equipment in your home, up to $2,000 total. No credit is allowed for equipment used to heat a swimming pool or hot tub. Again, this is a great way to reduce your energy expenses month after month and reduce your taxes.
Buy a hybrid car – You can reduce your taxes by purchasing an energy efficient car, like a hybrid. There are tax credits available for a variety of fuel efficient automobiles. Check out the credits before you buy – in some cases you can qualify for over $3000 in tax credit. In addition, you’ll save money on fuel each and every month that you own the car, and you’re doing the environment a favor, too.
Take a look at your stock portfolio – If you have some stocks that have tanked since you purchased them, now’s the time to sell them. When you sell stocks at a loss, you can deduct the loss from your taxes. And, when your stocks are doing well, you’ll reduce your taxes when you sell them by holding on to them long term. Long term capital gains taxes on stocks are around 15%, while short term capital gains taxes can be up to 30%. So, if you’re thinking of selling a good stock, be certain to check on how long you’ve held it.
Reduce Property Taxes News
Mayor Mike Bloomberg offers to negotiate on property tax rebates - New York Daily News
 7Online.com | Mayor Mike Bloomberg offers to negotiate on property tax rebates New York Daily News, NY - By Frank Lombardi and Corinne Ramey Mayor Bloomberg softened his Scrooge stance on rescinding this year's $400 property tax rebate Thursday, now saying it's ... Bloomberg’s budget woes Council Asks Mayor to Keep Tax Rebate Check Council Members File Suit Over Rebate Checks |
Allan Schmid, who helped Michigan limit property taxes and terms, dies - Detroit Free Press
Allan Schmid, who helped Michigan limit property taxes and terms, dies Detroit Free Press, United States - In 1978, Schmid played a key role in drafting the Headlee Amendment to limit the growth of property taxes. And in 1992, he was part of a group that ... |
NY comptroller warns of rising property taxes - Forbes
NY comptroller warns of rising property taxes Forbes, NY - DiNapoli estimates that property tax revenue could fall by up to $1.3 billion if statewide property values decline as much as during the early 1990s ... Report: Foreclosures hurting NY Long-Term Problems for NY Goverment Foreclosure rate highest in Orange |
City sends bills to recoup improper property tax breaks - Baltimore Sun
City sends bills to recoup improper property tax breaks Baltimore Sun, United States - Owners are being targeted because city and state officials have evidence that they are applying a homestead property tax credit to rental or vacant ... |
Senior property tax rebates - Lahontan Valley News
Senior property tax rebates Lahontan Valley News, NV - By GEOFF DORNAN The Interim Finance Committee voted Thursday to reduce senior citizen property tax rebate checks to an average of $300 and to get them in ... Legislators trim property tax rebates for poor seniors |