These tax deductions may help save homeowners thousands

It can be a big relief to finish the chore of filing your tax return—but it can also leave behind doubts. Did you pay more than your fair share in taxes? Could you have earned a bigger refund?

If you’re a homeowner, there’s a chance you’re leaving money on the table by not tapping into all of the possible ways you can leverage your home to help reduce your overall tax bill.

Homeownership involves a good deal of financial investment not just to purchase a home, but also to maintain it. Renovating a decades-old kitchen or upgrading the plumbing and wiring for 21st-century living can cost tens of thousands of dollars.

That said, homeowners also lend stability to a neighborhood, town, or city.