TOP 7 TIPS TO MAXIMISE YOUR PROPERTY TAX RETURN

TOP 7 TIPS TO MAXIMISE YOUR PROPERTY TAX RETURN:

But we’re here to tell you otherwise thanks to prudent real estate investment! After the year’s halfway point, many investors are frantically trying to figure out what they may claim from their property tax returns. In this article, I’ve done the research and prep work for you and come up with our top 7 ideas to maximize your returns for 2022. Check them out!

1. Costs of Depreciation: The value of an asset less all accumulated depreciation that has been recorded against it is referred to as depreciated cost.
Any property that produces income may be eligible for significant returns in the form of depreciation deductions in the context of real estate investment. In actuality, the majority of investors are eligible to claim an average of $5,000 to $10,000 in the first full financial year alone. The fact that property depreciation is a non-cash deduction—i.e., the investor does not have to spend money to claim it—means that it is frequently overlooked.