Individuals who own a home may deduct property taxes for the purposes of computing taxable income.

Name: Individuals who own a home may deduct property taxes for the purposes of computing taxable income.
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This is true. Homeowners can deduct their property taxes as an itemized deduction on their federal income tax return, up to a limit of $10,000 per year. This deduction is only available if the taxpayer itemizes their deductions instead of taking the standard deduction.

Individuals Who Own a Home May Deduct Property Taxes for the Purposes