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Assume your home is assessed at $ 2 3 0 , 0 0 0 . You have a $ 2 2 1 , 0 0

Assume your home is assessed at $230,000. You have a $221,000 loan for 25 years at 6 percent. Your property tax rate is 1.5 percent of the assessed value. In year one, you would pay $12,155 in mortgage interest and $3,450 in property tax (1.5 percent on $230,000 assessed value).
What is the total deduction you can take on your federal income tax return?
Federal income tax deduction amount
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