What Are Homeowner Tax Credits?

A big perk of owning your own home are the homeowner tax credits! But what are homeowner tax credits?

A homeowner’s tax credit is a specific tax benefit available to homeowners.

This benefit allows the owner of a home to reduce their income tax rate, deduct certain home-related expenses, or receive a tax credit through a tax credit program.

In 2020, homeowner’s tax credits include:

• Mortgage interest deduction
• Local & state tax credits
• Capital appreciation from the qualified sale of your home