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Author: MoreToLife Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121223  
Subject: Timing of property tax payment on an empty lot? Date: 12/14/1998 2:41 PM
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We purchased a lot in September of this year. We are
intending to start building a house on the lot sometime
in 1999. We are currently living in an apartment.
My question is, are the interest and taxes on the lot
deductible this year as home mortgage deductions?
If we wait until January to pay the taxes, will they
be deductible in 1999 even though we start construction
after January? We had a house until October this
year, so we will be itemizing this year. I'm not
sure whether we'll be able to itemize next year,
depending on the schedule of building. What is my
best approach for payment of property tax?

Regards,
MoreToLife
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