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Doom Shepherd
Lv 7
Doom Shepherd asked in Business & FinanceTaxesUnited States · 1 decade ago

What Counts as Local Tax?

I'm filling out my Real Estate Form (Schedule L), it says "add state and local real estate taxes." I pay school, city, and county taxes. Which can I add?

Update:

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  • ?
    Lv 7
    1 decade ago
    Favourite answer

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  • cynic47
    Lv 6
    1 decade ago

    You can include any state or local taxes which are based on a percentage of the assessed value of the property. This would typically include such things as school taxes, city/town taxes and county taxes. Sewer taxes vary by location, so you should include your sewer taxes if they are a percentage of the assessed value of your property, but do not include any sewer taxes based on the amount of your water usage.

    Source(s): Schedule L instructions http://www.irs.gov/pub/irs-pdf/f1040sl.pdf
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