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All associations that elect to be taxed as a homeowners association are entitled to a speciï¬c $100 deduction from its taxable income. This means that associations with relatively small amounts of taxable income could have their tax liability eliminated by the application of the speciï¬c $100 deduction.
Best Answer: I've never heard of an HOA covering property taxes before, but.... Mortgage interest and property taxes are deductible IF you itemize deductions. Renting out one room of the house makes most expenses (partially) deductible, to the extent of gross rental income. just now. Report Abuse. Only the portion of the HOA fee that represents the property taxes on YOUR unit is deductible. Normally your property taxes are not included in HOA fees and the portion that represents the taxes on the common areas isn't deductible by you.