Frequently Asked Questions
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Q.
I just bought a new house.
What deductions can I get? |
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A. There
are two basic deductions available. Homestead
for owning and living on the property and
Mortgage for having a mortgage or contract on the
property. For more information see
Deductions. |
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Q. I re-financed my mortgage. I was told
that I had to re-file my Homestead deduction. |
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A. No,
you must re-file your Mortgage
deduction. If you have closed on the new
mortgage on or before March 1 of any given year, you
have until May 10th of the following year to re-file
your deduction. Failure to re-file will result
in the loss of the deduction.
(The
Homestead deduction does not need to be re-filed
unless your primary place of residence changes.) |
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Q. Where do I file my deductions? |
Updated: November 3, 2009

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