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US Congress Considering Making Property Tax Deductible

Last updated on Thursday, April 10, 2008

(UNDATED) - The state has already approved a property-tax relief package. Now Congress may get into the act.

Next year only, you'd be able to deduct $500 worth of property tax payments on your income tax next year, under a proposal in both the House and Senate.

Couples could deduct $1,000. That would reduce the amount you owe by anywhere from $50 to $350.

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