Properties Magazine April 2017 : Page 26

ACAR CORNER Issues in the real estate industry Tax Breaks You Can Only Claim as a Homeowner T JIM FOX here are many benefits associated with homeownership. The American Dream offers financial gain and stability and many other social benefits. A real estate agent will tell you that one of the biggest benefits associated with homeownership can be found when filing your taxes, and depending on your situation, there may be thousands of dollars coming back your way. “Homeownership is an investment in your future,” says Jim Fox, 2017 president of the Akron Cleveland Association of Realtors. “It is where we make memo-ries and feel comfortable and secure. It strengthens communities, and it offers financial security. Tax breaks are just one of many benefits of being a homeowner, and even those who have owned a home for years may be unaware of all of the opportunities for savings.” Whether or not you’ve taken advan-tage of these benefits in the past, The Akron Cleveland Association of Realtors wants to remind homeowners of the many tax benefits, savings and deduc-tions they can take advantage of simply by owning a home. The mortgage interest deduction This may be the most notable and advantageous tax benefit that home-26 Properties | April 2017

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