Are the full amount of property taxes deductible?

[stanw]

Last year we owned a home (our primary residence) and a condo that we sold in November. We did not rent the condo.

1. Are the full amount of the property taxes for the primary home deductible?

2. What about for the condo?

Thanks.

[mwcpa]

subject to the limitation of the AMT, real estate taxes paid in the United States on your primary home are a tax deduction on schedule A

a condo, if it is a primary home, a vacation home, a straight investment property (not rental) are also deductible, subject to AMT limits, on schedule A.  Since you sold the home in November you may need to adjust the tax paid for any reimbursement received from the buyer or any payment you had to make at the close to settle up with the town/city the condo was in.  (transfer taxes are not real estate taxes)

[eapat]

If your property taxes include any services (such as garbage pick up) or special charges that increase the value of your property (assessment for new sewer or water line when none existed before), then those amounts are not deductible.  The special charges are added to the cost basis of the house and will reduce the amount of capital gain when you sell.

From Pub 17:  "Deductible real estate taxes generally do not include taxes charged for local benefits and improvements that increase the value of the property. They also do not include itemized charges for services (such as trash collection) assessed against specific property or certain people, even if the charge is paid to the taxing authority."