I thought if you own a home, you have to pay property taxes related to your home. If you rent, you pay no property taxes related to your apartment or rented house.
How does owning a home bring a tax benefit?
Best Solver (Answer):
Answer by tro
owning your own home allows you to probably use Sch A, itemized deductions, which you were not able to do previously
this will definitely reduce your taxable income so that alone makes it beneficial
all property owners pay property taxes, if you rent, the landlord has included that in the amount he charges you for rent so indirectly you are paying some of it but it is of no tax benefit to you
some states have some credits for renters