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Florida law prohibits pre-paying 2018 property taxes

28 December, 2017, 00:53 | Author: Kristen Ingram
  • Chris Christie. Kevin B. Sanders for Observer

Katherine Jordan, an attorney specializing in tax law with Chamberlin Hrdlicka's Philadelphia office, said only property taxes can be prepaid under the new bill, which prohibits prepayment of state and local income taxes.

Some homeowners - particularly those with high property taxes - are spending this last week of 2017 in lines at county offices looking to pre-pay 2018's tax bill before the end of the year. Among other provisions, the law limits the state and local income tax, sales tax and property tax deductions for those who itemize to $10,000 beginning in 2018.

"There are so many moving pieces that even now that it has passed, we're not in a position to assure our residents that these payments are going to be deductible", said Leventhal.

Residents lined up before the doors opened Tuesday at the Sacramento County Administration Building to do something people aren't normally so eager to do: pay their taxes early.

Lisa Kramer, Dodge County's finance director, said her office has also seen a influx of early payments from people seeking to get ahead of tax changes.

According to the Hillsborough County Tax Collector's office, customers are unable to make "pre-payments" because 2018 tax values have not yet been assessed.

Despite likely shelling out extra money for the holidays this month, New Jersey residents are rushing to their tax collectors to pay tens of thousands of dollars before the new year.

If you want to beat the deadline, contact your town tax collector to find out the amount due.

People in some communities are trying to effectively delay that hike for a year by paying their 2018 taxes in advance, though it isn't clear whether doing so will pay off. Residents should consult their tax professionals. Under the new law, which goes into effect January 1, property owners will have a $10,000 limit on state and local tax deductions. Not all towns have the option of making property tax payments online, however.

The EO will also suspend local laws limiting the ability of taxpayers to make partial payment of property taxes until the end of the year.

A spokesman for Keystone Collections, which is based in Westmoreland County, said tax collectors are not permitted under state law to accept payments until they have a bill in hand from the taxing authority.

The IRS hasn't yet said how it would handle prepayments. Along with the removal of personal exemptions up to $4,100, many families worry that doubling the family deduction from $12,000 to $24,000 won't be enough to bring taxes down.

The prepayment in Rockland will cover town, county and special district taxes, such as sewer system levies.

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