Yes, it’s perfectly correct. It makes no difference if your refer to a thing or an object, unlike in English where you have the distinction between “which” and “who”.

it’s good .

1. example:

j’ai acheté une maison avec 500000$ dont le prix des taxes est 100$

2. the same example in English:

I bought a house with $ 500,000 whose tax price is $ 100

The subject of relative clauses and relative pronouns is one of the richest ones in the French language.
Even a book of introductory nature like Easy French Step-By-Step dedicates 10 pages to it.

Relative clauses provide more information about their antecedents and are introduced by various relative pronouns (qui, que, dont, de qui, duquel, etc.).

In particular, dont may be translated by whose, of whom, of which, with which, from which, etc. depending on the context. It may refer to persons, animals or things.

In French it signifies de qui, de quoi, duquel, etc. and it is the commonest form when the relatif pronoun is preceded by the preposition de.

Thus, one would say:

L’homme dont je t’ai parlé n’habite plus à côté.

Je ne comprend pas ce dont il a parlé.

Le château dont on aperçoit les tours est hanté.

rather than

L’homme de qui je t’ai parlé n’habite plus à côté.

Je ne comprend pas ce de quoi il a parlé.

Le château duquel on aperçoit les tours est hanté.

On the other hand one must use the compound forms (duquel, desquels, de laquelle) when there is another preposition that intevenes as follows:

La maison sur le toit de laquelle on voit une girouette est la sienne.

See, e.g.,

Relative pronouns 1

Relative pronouns 2

Relative pronouns 3