Thank you for commenting! I suppose that may help if we added the price in all the examples, instead of just the square feet and the cost per square foot. That might be a consideration for Part 2 :)
If the bond is part of your taxes, does that mean you can deduct it from your taxes as part of your SALT (state and local taxes) deduction? Provided that you itemize of course.
That is a very good question! I may be wrong, but this is my thinking: Although the bond is billed on your tax bill annually, I do not believe it is a tax and therefore would not be deductible. Personally, the bond on our house was already paid so I can't tell you from experience, BUT I'll check into it!
Please consult a tax professional to confirm my research: According to the "Talk of The Villages" it is not deductible. According to "The Villages" .."You should consult a tax professional" (HAHA, nice right?)... According to "Zachs Finance": " In the case of ad valorem taxes, taxpayers can deduct property taxes on their income tax returns, but Non-Ad Valorem (like The Villages bond assessments) are not allowed as deductions with a notable exception allowed for business expenses." ..... Hope this helps!
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Anxiously awaiting Part 2
ME TOO! I can't wait to share! Thanks for commenting..
It would be nice if you would give the prices
Thank you for commenting! I suppose that may help if we added the price in all the examples, instead of just the square feet and the cost per square foot. That might be a consideration for Part 2 :)
Yes, because even on the square footage, the price could be different
I'm showing sold homes with the listed square footage and the listed sale price per square foot. Thanks for asking.
If the bond is part of your taxes, does that mean you can deduct it from your taxes as part of your SALT (state and local taxes) deduction? Provided that you itemize of course.
That is a very good question! I may be wrong, but this is my thinking: Although the bond is billed on your tax bill annually, I do not believe it is a tax and therefore would not be deductible. Personally, the bond on our house was already paid so I can't tell you from experience, BUT I'll check into it!
Please consult a tax professional to confirm my research:
According to the "Talk of The Villages" it is not deductible.
According to "The Villages" .."You should consult a tax professional" (HAHA, nice right?)...
According to "Zachs Finance": " In the case of ad valorem taxes, taxpayers can deduct property taxes on their income tax returns, but Non-Ad Valorem (like The Villages bond assessments) are not allowed as deductions with a notable exception allowed for business expenses." .....
Hope this helps!
@@ShannonLeeSanford thank you so much Shannon. You always go above and beyond!
@DisMindy5767 You are very sweet!! Thank YOU for all your comments and questions. I’m so thankful the videos are providing value.
What home areas are included in the calculation of a home's square footage?
Only heated/cooled areas are included in the square footage.