Real estate tax deductions attractive to Texas homeowners
Among the 35 million taxpayers who use the home mortgage deduction, the average amount of mortgage interest deducted by each tax filer is $9,650. For those who deducted real estate taxes, the average is more than $3,000, making these two of the most widely used and important deductions in the federal tax code, according to a new study released by the National Association of Home Builders (NAHB).

On a statewide basis, Texas homeowners deducted $16 billion in mortgage interest. In addition to the mortgage interest deduction, Texas taxpayers exceeded the national average of $3,000 for real estate tax deductions – filing $4,501 per household. These deductions can dramatically reduce a taxpayer’s liability and serve to promote homeownership.

Source: RISMedia