Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.

Do property taxes get deducted 100% from the Annual Tax Return or only a fraction of them?
To bring more clarity to the issue, Viriato will be entitle to deduct property tax depending upon whether he is claiming standard deduction (which varies on some factors including filling as married or single) or itemized deduction. If he is claiming, itemized deduction Example 1 is correct. Example 2 suffers from another mistake. He can get refund of only income tax portion of $5000 and not $5000.