Christie orders towns to accept 2018 property tax prepay

28 December, 2017, 00:53 | Author: Irene Delgado
  • Christie orders towns to accept 2018 property tax prepay

While the tax plan could increase taxes for some families in New Jersey, national Republicans have touted the plan's tax cuts and tax code simplification.

A note for property owners: The San Luis Obispo County Tax Collector says his office can not accept advance payments for 2018-19 property taxes. "They tell us when we can pay taxes, how we pay taxes, how we conduct a tax certificate sale and we cannot deviate from that".

But under the tax legislation President Donald Trump signed into law Friday, there's a $10,000 cap on the deductions. Other counties also reported taxpayer interest in prepayment of taxes. (Many now taking the deduction could also decide to stop itemizing, especially given the new system's boost in the standard deduction for non-itemizers). Eager to pay his 2018 taxes and claim a state and local tax deduction, he calculated his tax bill and was at the township's offices with his checkbook by 8:30 a.m. Tuesday. But for the most part, she said, they're just mildly curious. "You can partially prepay or fully prepay and get your deductions for your property tax payment", Cuomo said. The tax law does not eliminate medical expense deduction as some had feared it might. The executive order, signed earlier this month, allows New Yorkers to deduct their 2018 local taxes from their 2017 federal tax return if they file by January 1, the Associated Press reported.

"It has really picked up since the 20th", she said, citing the time implications of the federal tax bill started to emerge. The tax law keeps the college tax credits now available to taxpayers.Taxpayers have only days left to make moves that can reduce their 2017 taxes.

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Next year, tax deductions for property taxes as well as any state and local taxes will be capped at $10,000 - a key reason why people were hoping to double up on payments this year. Surprisingly, the Liberty Tax poll found that almost 78 percent of respondents were at least slightly concerned that tax reform would affect their 2017 taxes. Residents should consult their tax professionals.

But the tax collector's office would not take Goldstein's check. Liberty Tax's online services are available through eSmart Tax, Liberty Online and DIY Tax, and are all backed by the tax professionals at Liberty Tax locations and its nationwide network of seasonal tax preparers.

Editor's note: Tax Watch columnist David McKay Wilson is checking with municipalities in Westchester, Rockland and Putnam about if and how property owners can prepay property taxes.



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