| Florence Oregon
Real Estate |
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100 HIGHWAY 101
P.O. BOX C
FLORENCE, OREGON
97439
1-800-999-5343 |
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Florence Properties |
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| Real Estate Tips |
Income Savings Tax
Because of income tax deductions, the government is basically subsidizing your purchase of a home. All of the interest and property taxes you pay in a given year can be deducted from your gross income to reduce your taxable income.
For example, assume your initial loan balance is $150,000 with an interest rate of eight percent. During the first year you would pay $9969.27 in interest. If your first payment is January 1st, your taxable income would be almost $10,000 less – due to the IRS interest rate deduction.
Property taxes are deductible, too. Whatever property taxes you pay in a given year may also be deducted from your gross income, lowering your tax obligation. |
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Micki Capen - Broker
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Office Phone: (541) 997-7777 ext. 125
Toll Free: (800) 999-5343
Fax: (541) 997-7159
Home Phone: (541) 999-1375
Cell Phone: (541) 999-1375
micki@starband.net
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It is fun living in Florence. Walking the beach and watching sunsets, boating on the lakes and river – what a joy! And I love working at Coldwell Banker Coast Real Estate and helping my clients, whether they are buyers or sellers, with the best service I can provide. Call or come visit me. I’ll take great care of you.
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