Quote Originally Posted by nemaroller
Generally, a small percent of local property taxes are deductible off your Federal income tax, however, the major deduction is from the interest paid on monthly mortgage payments.
remember to save every receipt for anything used to upgrade your house like tools and building materials as well. You can use some of that as a write off if you sell your place. I'm not sure how it applies if you hire contractors though. I imagaine it works the same way.