"In this way, the citizens of NY could deduct part, or the full amount, of their payment from their federal taxes before the new tax bill goes into effect", Greenberg suggested. Anxious about the recently passed tax reform bill that caps federal tax deductions for state and local taxes at $10,000, citizens in areas with pricey real estate are rushing to prepay the property taxes that account for a significant chunk of their deductions, the Wall Street Journal reports.
Since a national income tax began more than 100 years ago, people have been allowed to deduct from their income the amount they've paid for state and local taxes.
For those Americans who are retired or disabled, or who are lucky enough to work in one of those industries that basically shut down between Christmas and New Year's Day, this week is probably devoted to visiting relatives, returning gifts, watching football or basketball, or in general recovering from 2017.
From Jersey City, N.J., to Oyster Bay, N.Y., residents are hustling to make early property tax payments on their 2018 bills to avoid a hit under the new tax bill passed by Congress. "It is just not possible for the county to issue its 2018 tax warrants to localities within the next four days for a whole host of legal, operational and practical reasons".
"My fun holiday reading is ... going through the bill page by page", she said. Last year, about 1,000 people prepaid by mail; this week, 400 to 500 have gone daily to the Hennepin County Government Center in downtown Minneapolis to pay their taxes in advance.
The three counties with the highest median tax bills in the country - Nassau County, Rockland County and Westchester County, which are all in NY - have median tax bills exceeding the $10,000 cap, according to the Tax Foundation. Henry, the Haddonfield tax collector, said he is allowing residents to estimate their 2018 bills, since they will not receive their bills for the second half of the year until August.
Seminole County's tax collector is asking Gov. Rick Scott to allow residents to pre-pay their 2018 property taxes.
LG to provide Android Oreo upgrade for V30
Available through Motorola and on Project Fi, the Android One Moto X4 offers a stock build of Android that runs and feels great. The update is now rolling out for users in Korea, but it should be available in Europe and other regions in the next few days.
Tax offices in different places around the country have very different positions on whether they would accept prepayments.
"Out of, probably, 80 that I've done already, I think, four it has benefited [to pre-pay property taxes]", says Beveridge. The Government Center's parking ramp will be open during those times.
"Only some Auburnians will be able to take advantage of the resolution we pass here today", Carabajal said.
Morning Call reporter Timothy Darragh and the Associated Press contributed to this article.
Check your county fiscal office website.
Tisbury tax collector Jon Snyder: "Oh boy, we have had many, many people call".