Can I Get a Tax Break for Buying a House?

Yes, there are a few tax breaks that homeowners can qualify for.

Mortgage interest deduction: This is one of the most common tax breaks for homeowners. It allows you to deduct the interest you pay on a mortgage used to buy, build, or improve your main home or second home. The maximum amount you can deduct is $10,000 if you are married filing jointly, or $5,000 if you are single or married filing separately.

Mortgage points: If you pay points to lower your mortgage interest rate, you can deduct them as mortgage interest. One point is equal to 1% of the mortgage amount.

Property taxes: You can deduct the property taxes you pay on your main home or second home. The maximum amount you can deduct is $10,000 if you are married filing jointly, or $5,000 if you are single or married filing separately.

State and local sales taxes: You can deduct the state and local sales taxes you paid on the purchase of your home, up to $10,000 if you are married filing jointly, or $5,000 if you are single or married filing separately.

First-time homebuyer credit: First-time homebuyers may be eligible for a credit of up to $10,000 if they buy a home and live in it as their primary residence for at least three years.

Energy-efficient home credit: You may be eligible for a credit of up to $500 if you buy a home that meets certain energy-efficiency standards.

Energy-efficient improvements credit: You may be eligible for a credit of up to $300 for energy-efficient improvements to your home, such as installing new insulation or windows.

Home office deduction: If you use your home as a regular and exclusive place of business, you can deduct a portion of your home expenses, such as mortgage interest, property taxes, and utilities.

Please note that these are just some of the tax breaks that may be available to homeowners. The specific tax breaks you qualify for will depend on your individual circumstances. You should consult with a tax advisor to determine which tax breaks you are eligible for.


Home Energy Tax Credits

If you make energy improvements to your home, tax credits are available for a portion of qualifying expenses. The credit amounts and types of qualifying expenses were expanded by the Inflation Reduction Act of 2022.

We’ll help you compare the credits and decide whether they apply to expenses you’ve already paid or will apply to improvements you’re planning for the future.

Who Can Claim the Credits

You can claim either the Energy Efficient Home Improvement Credit or the Residential Energy Clean Property Credit for the year when you make qualifying improvements.

Homeowners who improve their primary residence will find the most opportunities to claim a credit for qualifying expenses. Renters may also be able to claim credits, as well as owners of second homes used as residences.

The credits are never available for improvements made to homes that you don’t use as a residence.

 READ MORE


Property Tax Deduction: Rules, How You Can Save More

Property tax bills can be deductible. Find your tax records, add up the stuff that counts, and watch the calendar.

The property tax deduction is one of many benefits of being a homeowner, but you don’t need to own a house to get this tax break — there are other ways to qualify.

Are property taxes deductible?

Generally, yes. The SALT deduction allows you to deduct up to $10,000 ($5,000 if married filing separately) for a combination of property taxes and either state and local income taxes or sales taxes. Renters might qualify for a property tax deduction, or a property tax credit, on their state taxes.

What property is tax deductible?

  • Primary home.
  • Co-op apartment (see IRS publication 530 for special rules). [1]
  • Vacation homes.
  • Land.
  • Property outside the United States.
  • Cars, RVs, and other vehicles.
  • Boats.

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Ralene Nelson, REALTOR
OPEN HOUSE Sat & Sun 12 PM – 2 PM
JUST LISTED – 518 American Falls Dr, Rio Vista
2 bed/2 bath/1,689sqft/4,948sf

$450,000 – Located in Trilogy at Rio Vista, the active adult community, beautiful Hillsborough model. As you enter you will note the owner’s pride of ownership. This Hillsborough model is 2 bedroom, 2 baths, with a 25 yr solar lease. The owner has, for the most part, made this an all-electric home, with the exclusion of hot water heater. The entry & kitchen have tile floors, the great room is laminate & bedrooms/den are carpeted. Granite kitchen with stainless appliances, pantry & pendant lighting fixtures over the island. The patio wraps around with sidewalks on both sides of the home. The seller has installed a sink with cabinets in the garage with overhead storage too. All appliances convey so just bring your furniture and enjoy all the amenities, 2 pools/spas, tennis & bocce courts, billiards, gym, golf, & various clubs. There is something for everyone. READ MORE


FOR SALE – 667 W Tyler Island Bridge Rd, Isleton
3bd/1ba/1107sf


Country Living, owns a little bit of the Delta, close to the Sacramento River, so get your fishing rod ready or those water toys. Built on a 1/4 acre, the 3 bedroom 1 bath has so much potential. The bath has been remodeled with a new subfloor, LVP flooring, tub/shower & basin cabinet. Partial dual pane windows & 1 bedroom has slider to the back yard. Room for vegetable garden & chicken coop included, so have fresh eggs & vegetables every day. Newer gas stove & refrigerator included as well as washer/gas dryer. The workshop & shed do not have electricity. Although the home does not have central air, the seller has installed 2 newer wall air conditioners that provide ample cool air for the entire home. Hot water heater was replaced in January of 2023. The forced air heater has been serviced every year. Septic is fenced for safety & leach lines run down each side of the workshop. The home will have new interior paint. Pictures are to be taken when the home is ready for show. READ MORE


PRICE CHANGE – 718 Allender Way, Rio Vista
3bed/2bath/1,346sqft5,306sqft lot

PRICE CHANGE $535,000 – As you approach this gorgeous home, it radiates pride of ownership. The driveway has been extended with new concrete on both sides of the home. New exterior paint with newer drought-resistant landscaping w/new walkway to front door & drip system w/timer. As you step inside, the home has new interior paint, baseboards & LVP flooring throughout. The kitchen has painted cabinets with quartz counters, a stainless sink & refrigerator. Then step out to the newly landscaped backyard w/new patio, custom pergola, 8 X 12 pool, security fence & all new perimeter fencing, as well as french drains from back to front. The primary bath has painted cabinets, new mirrors & light fixtures. His & Her closets with a barn door that provides bath privacy. The home has all-new light fixtures, hardware, a whole house fan, water filtration & softener, & reverse osmosis, and electric vehicle chargers. Just bring you furniture & enjoy this move-in ready home and bask in the sun with a BBQ. Room for RV parking. A solar lease is only $89 a month, 25 yr lease & transferable. Just bring your furniture and enjoy!! Rio Vista is a quaint little located in the heart of the Delta, close to San Francisco, wine country, and Sacramento. Enjoy water sports, fishing & duck hunting. MORE INFO


FOR SALE – 500 Coronado Way, Rio Vista
2 bed/2 bath/2,048sqft


$529,500 – Don’t miss out on this stunning Burlingame model, located on a corner lot with minimal exposure to rear neighbors. The entrance has been upgraded with stamped/dyed concrete as well as, the 2 rear patios. This home has great curb appeal, & as you step inside, you can feel the warmth from the soft decorating neutral tones & plush carpet. The flex space provides you with additional room for entertaining, both for seating & dining and the gourmet kitchen equipped with stainless appliances for the chef includes an island for bar stools & sink. Extra counter space also provides as excellent spot for a buffet or displaying your treasures. This home has a nook for casual dining & space for a formal dining room table, as well as a den/study. The gas fireplace with w/upgraded mantle in the great room makes for a cozy room too. The primary suite is larger than most and accommodates a king bed with ample room around. Slider to private patio w/privacy screen provides a cozy spot for morning coffee/nightcap. The primary bath has double sinks, a walk-in shower & walk-in closet. The 2nd bedroom is located in front of the home, this provides privacy for both guests & homeowners. Move-in ready, just bring your treasures and join the fun in this Active Adult Community. 2 pools/spas, tennis courts, bocce ball, and billiards. READ MORE


1.935ac Poppy House Rd. & Norman Richards Dr. Rio Vista

$410,000 – Zoned Commercial, No Cannabis. Contact Ralene Nelson at Re/Max Grupe Gold | BRE# 01503588 | 707.334.0699 | 107 Main St. Rio Vista. WEBSITE


Events in Northern California this Weekend

Holiday Home Tour
Sat, Dec 2, 7:00 PM – Sun, Dec 3, 12:30 AM
116 Main St, Rio Vista, CA


A self-guided tour of seven festive and unique homes on the 2023 Holiday Home Tour, Saturday December 2nd in Rio Vista.
RioVision is proud to present seven festive and unique homes on the 2023 Holiday Home Tour, Saturday December 2nd. The event is open to the public and is held in conjunction with the Rio Vista Museum Olde Tyme Holiday Faire, and the annual Christmas Tree Lighting at the end of Main St., followed by a lighted boat parade. A limited number of VIP tickets are available which include the home tour and a special event at a private home on the river to sip cocktails and watch the lighted boat parade drift by. The Holiday Home Tour, offered only in odd-numbered years, features four homes in old-town Rio Vista and three homes in Trilogy. WEBSITE


Holiday Delites, Antioch
Sat, Dec 2, 1 – 5 PM
Willow Park Mercantile, 205 G St, Antioch


Join US Dec 2nd 1pm – 5pm for Our Annual Sip & Shop Artisan Faire! This event will be held at the Riverfront in Downtown Antioch on G Street Antioch, CA. This Family Friendly Event Includes Music, Wine & Beer, Food and Over 30 Artisan Vendors! Great Way to Knock Out That Christmas Shopping List While Supporting Local and Handmade Artisans! The City of Antioch Holiday Parade and Tree Lighting Ceremony to Follow 4pm -7pm So You Can Stick Around and Enjoy All the Holiday Festivities! Great Family Fun with Free Entry & Free Parking WEBSITE


Super Holiday Boutique, Concord
Sat, Dec 2, 10 AM – 2 PM, Sun, Dec 3, 11 AM – 3 PM
Hilton Concord, 1970 Diamond Blvd, Concord


Holiday season’s largest shopping extravaganza in Contra Costa at 14th annual Super Holiday Boutique, Dec. 2-3, in Pleasant Hill & Concord.The holiday season’s largest shopping extravaganza in Central Contra Costa is at the 14th annual Super Holiday Boutique THIS WEEKEND, Dec. 2-3, in Pleasant Hill (Saturday) and Concord (Sunday)Shoppers will find a potpourri of gift items in a warm, festive indoor setting.

Admission and parking are free each day.

The 2 FREE INDOOR holiday events allow shoppers to get those special one-of-a-kind holiday gifts and stocking stuffers for family, friends, and colleagues from a variety of arts and crafts vendors, home-based businesses, and commercial exhibitors.


Illumination Festival, Elk Grove
Sat, Dec 2, 11 PM – Sun, Dec 3, 4 AM
8230 Civic Center Dr, Elk Grove, CA


Join The City Of Elk Grove For Our 4th Annual Illumination Holiday FestivalThis holiday event has everything you’re looking for to get into the spirit including shopping for special gifts in the Vendor Village, brought to you by River City Marketplace, taking a glide on a special ice rink, letting the kiddos jump in wintery bounce houses, enjoying some holiday delicacies, celebrating traditions from around the globe, stepping into a giant snowglobe for a holiday photo, playing some holiday carnival games and even connecting with Mr. Claus himself!

In addition to the festival, make sure to grab a great spot along the beloved Holiday Parade of Lights, produced by The Elk Grove Lions Club and Presented by Sutter Health, as it makes its way around District56 beginning at 6pm.

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