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Are property taxes deductible?
Property taxes on all real estate, including those levied by state and local governments and school districts, are fully deductible against current income taxes.

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    Q: The process of revising or updating the estimated value of real estate for tax purposes is called:

Word of the Day
   Escrow

"Escrow" is a financial mechanism where property or money is held by a third party (the "escrow holder") until the agreed upon obligations of an agreement have been met. Escrows are frequently used in connection with the closing of real estate transactions.
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