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Your home should be, besides your nest of dreams, an income tax saver. From the moment you take title to the day you turn over the key to the next inhabitants, you are endowed with opportunities to minimize your tax bill.
While you own the home, your two major annual deductions are property taxes and the interest on the mortgage. These can be considerable deductions.
Keep in mind that it doesn’t matter whether you pay property taxes directly or through an escrow account held by the bank. In either case,
82.2%