Homeowner Tax Moves to Make Before December 31
As the year winds down, most people focus on holidays and gift lists, but December is also your last chance to make certain homeowner-related moves that can affect your taxes.
Here are a few to have on your radar (always confirm specifics with your tax professional).
1. Organize Records of Home Improvements
If you’ve:
Renovated a kitchen or bath
Replaced a roof
Upgraded windows or insulation
Finished a basement
Make sure you have receipts and records saved and backed up. These can help with:
Future capital gains calculations when you sell
Possible rebates or incentives tied to energy improvements
2. Explore Energy-Efficiency Credits
Depending on current tax law as you’re reading this, certain energy-efficient upgrades (like heat pumps, insulation, windows, or solar) may come with federal or state incentives.
If you were planning to make a qualifying upgrade anyway, doing it before December 31 could be worthwhile.
3. Check Your Property Tax Situation
Have you been properly credited for what you paid this year?
Do you have copies of your property tax bills and payments for your accountant?
If there’s been a reassessment, make sure your records reflect the correct parcel and amount.
4. Review Mortgage Interest & Escrow
If you refinanced, paid off a second mortgage, or changed lenders this year:
Make sure you know who will be sending each 1098 form.
Confirm your escrow account is properly funded going into the new year.
5. Talk to Your Tax Professional Before Year-End
A quick conversation now about your income, deductions and home-related expenses can help you decide:
Whether to accelerate certain payments (like property tax, if applicable/allowed)
Whether major home expenses should be timed this year vs. next
Taking care of these simple end-of-year tasks will set you up for an easier tax season and a stronger start to 2026.
Looking for more homeowner tips? Visit here or follow @XOPackanack for ongoing local insights.
