Should you prepay your 2018 property taxes?

Our clients have been asking about the possibility of prepaying real estate taxes due in 2018 before the end of 2017. 

Thousands of homeowners are rushing this week to prepay their property taxes before the new tax legislation caps the amount of state and local taxes that can be deducted at $10,000.

The IRS on Wednesday announced that taxpayers can prepay their 2018 property taxes only if they have already received a tax assessment from their local government and they make payment by the end of the year.

Please contact BiggsKofford to review your particular situation prior to prepaying your real estate taxes before year end.