Assume your home is assessed at $220,000. You have a $217,000 loan for 15 years at 7 percent. Your property tax rate is 1.3 percent of the assessed value. In year one, you would pay $15,190 in mortgage interest and $2,860 in property tax (1.3 percent on $220,000 assessed value). What is the total deduction you can take on your federal income tax return?

		$15,605
		$18,050
		$16,360
		$13,020