In Piatt County, the Real Property Tax Year Is the Calendar

question 77

Essay

In Piatt County, the real property tax year is the calendar year.The real property tax becomes a personal liability of the owner of real property on January 1 and is payable on July 1 in the real property tax year.On June 30 of this
year (assume it is not a leap year), Harry sells his house to Judy for $110,000 and on July 1, Judy pays the entire real estate tax of $4,380 for the current year ending December 31.
a.How much of the property taxes may Harry deduct?
b.How much of the property taxes may Judy deduct?

---

Definitions:

Jackson's Indian Policy

The series of policies and actions during the presidency of Andrew Jackson aimed at the removal of Native American tribes from their ancestral lands, leading to the Trail of Tears.

Cherokee

A Native American tribe originally from the Southeastern United States, recognized for their rich history, language, and culture.

Supreme Court Decision

A ruling made by the Supreme Court, the highest federal court in the United States, which often serves as a final interpretation of federal law or the U.S. Constitution.

Davy Crockett

Davy Crockett was a 19th-century American folk hero, frontiersman, soldier, and politician, known for his adventures and his defense of the Alamo during the Texas Revolution.