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Updated almost 7 years ago,
Property taxes question
So when I was becoming educated about REI in general (reading books and listening to the podcasts) I was lead to believe that living in a property and renting it out at the same time (house hacking) was advantageous because you could claim homestead for your taxes which is considerably cheaper than not doing so.
Well I bought my current property, that I plan to house hack, from someone who was an absentee landlord and the taxes were not homestead. I just called the revenue office in my county and they told me that if I planned on renting my house out - even while living in it- that I would not be able to claim homestead and I will have to keep on paying as if I didn't even live there...
Unless I completely missed something, this goes against everything I learned about this subject up to this point. Does this sound correct to y'all?