Special Taxes, Special Assessment, Parcel Taxes, Water Standby Charges, etc. are NOT tax deductible. ONLY ad valorem taxes are legitimately tax deductible. However, homeowners regularly deduct the TOTAL amount they pay the County Tax Collector for "Secured Property Taxes" (including whatever else the bill contains). There are virtually tens of millions of dollars claimed (in California alone) that shouldn't be. The reality is that so many people do it that no politician would ever propose clarifying the issue, nor is the IRS likely to clamp down (because of the political repercussions). I'd be happy to provide additional information.
* Howard O. Kieffer
* District Counsel
* Serving Cities, School Districts and Special Districts
* (714) 836-8600 x 250
* FAX (714) 543-5890
* [EMAIL PROTECTED] <mailto:[EMAIL PROTECTED]>
-----Original Message-----
From: Smith, Judy [mailto:[EMAIL PROTECTED]]
Sent: Wednesday, October 25, 2000 4:49 PM
To: CSMFO Members
Subject: [members] Tax Deductibility - Special Parcel Tax
City of Palos Verdes Estates is in process
of special tax election (March 2001) for per parcel tax
to fund contract cost County fire and paramedic services.
Tax will include flat per parcel, plus cost
per sq. ft. of building improvement.
Is anyone aware of attorney opinion regarding
tax deductibility of parcel taxes - either flat or variable rate?
Has your city has obtained such an opinion?
Would appreciate answer and will post results.
Thank you.
Judy Smith
City of Palos Verdes Estates
340 Palos Verdes Dr. W. PVE CA 90274
(310) 378-0383 Phone (310) 378-7820 Fax
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