2018 Property Taxes

Many owners have requested that there be a line item on the dues billing for property taxes, which states what part of the yearly association dues should be listed as the property taxes deductible on individual income tax returns. Unfortunately, this subject is more complicated than it appears. The amount included in dues is an estimate of what the Homeowners Association expects to owe in future periods. Taxpayers may deduct the amount of tax actually paid in the tax year.

We are not able to advise you on your personal income tax preparation, but these amounts and documentation should provide enough information for you and your personal tax advisor to make an informed decision regarding what to deduct for 2018.