Luzerne County property owner tries to prepay real estate taxes

Luzerne County property owner tries to prepay real estate taxes

Luzerne County property owner tries to prepay real estate taxes

Lines were literally out the door Tuesday at the Sacramento County Property Tax Office, where dozens of people tried to prepay their property taxes for 2018.

But not only taxpayers in coastal states who expect to hit or exceed 2018's $10,000 cap for deducting property and state and local income taxes can benefit by prepaying their house taxes. Before, if someone paid $24,000 in property taxes - as some people in higher tax states like NY and California do - and then paid $20,000 in state and local income taxes they were allowed to deduct $44,000 on their federal tax return.

Cuomo conceded that prepayment may be hard for some households, the outlet reported. When evaluating four deductions or credits that had gotten significant publicity in the tax reform discussion:almost 50 percent said they likely would increase charitable contributions this tax year. "Lewis County is helping our residents take advantage of the Governor's Executive Order by posting our tax rolls online prior to their release by mail". The county offer of assistance to the towns is meant to make every effort possible to assist mutual constituents, as well as deal with the sudden demand and time-constrained workload.

Local municipalities are responsible for property tax collection. More than 10 percent said they were extremely likely to seek deductions, and more than 15 percent said they were very likely to seek deductions.

Anderson said she's certain other CPAs are doing the same thing, noting she's received numerous calls from retirees spending the winter months in other states who are looking for ways to prepay their property taxes.

"But, if you are at $17,000, then prepay your property taxes and charitable donations this year, because it doesn't help you in the future", she said.

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Anthony Huber said a phone call prompted his early arrival at the window to pay his 2018 property taxes.

Cuomo today issued an emergency Executive Order to help protect property owners in NY from the devastating impact of the GOP tax bill.

"For me it's just a missed opportunity for no real good reason - that's what makes you sick", he said.

In Broome County, prepayment of taxes for 2018 is available for the towns for which Broome County collects taxes: including the City of Binghamton, Town of Binghamton, Town of Conklin, Town of Dickinson, Town of Fenton, Town of Kirkwood, Town of Nanticoke and Town of Union. By last week, 6,600 people had done so - more than three times as many as a year ago.

The IRS hasn't yet said how it would handle prepayments.

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