Property Taxes and Co-ops

Categories: Taxes

I am about to purchase a co-op and am really confused about how real estate property taxes will work. Are my property taxes 100% covered in the monthly maintenance? I also hear that the tax portion of the maintenance is then tax deductible. Finally, I hear that it is beneficial to close late in the year for tax purposes – why is this so?

Anyone can shed some light on these questions for me?

By Suntory | 10/02/2009 6:07 AM