Thursday, 19 July 2018
Latest news
Main » NJ Gov. Christie orders towns to accept 2018 tax prepayments

NJ Gov. Christie orders towns to accept 2018 tax prepayments

28 December 2017

State law requires that residents who intend to prepay their property tax must pay the full amount of their 2017 county property tax.

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.

Signed by President Trump last week, the legislation limits the amount of money you can deduct for state income, sales and property taxes to $10,000.

Prepayment would only benefit those who itemize their deductions, and anyone looking to prepay should consult a tax professional first.

More news: Kremlin offers to be mediator between the United States and North Korea

"The action I took today will ensure that local governments are flexible and accommodating of their local property taxpayers as we transition to the new federal tax code for 2018", Christie said in a statement.

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.

Residents of other towns must contact the tax collector to determine if prepayments will be accepted.

The Washington County Tax Collector's office said it would not be accepting prepayment of property taxes. Not surprisingly, more than 68 percent of those polled said they are at least slightly likely to seek an increase in tax deductions or credits during the 2017 tax year to counter changes in the tax bill. By filing early, some people 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.

More news: Man suspected of killing wife, children wounds officer in shootout

"Everybody is trying to do what they think is the right thing to do", said Sizemore, who made it clear that his department can not offer tax advice. But for the most part, she said, they're just mildly curious. High on their lists was giving to charity, with almost 50 percent suggesting they are likely to increase their 2017 charitable contributions, which can be tax deductible."At Liberty Tax, we recognize tax reform as an issue of concern to taxpayers", said Liberty Tax CEO Ed Brunot.

Several towns in New Jersey are accepting prepaid taxes. "There is no way to do this responsibly by the end of the year given all of the laws that the county must follow under Westchester's charter and the US tax code, as well as a host of other variables and unknowns".

"Everybody's concerned about the new tax situation federally, and they want to pay their real estate taxes before the end of the year to get the deduction", Ms. Taylor said. By Saturday, Fifer said, the city had received more than $1.6 million in prepayments. Liberty Tax also supports local communities with fundraising endeavors and contributes as a national sponsor to many charitable causes.

But the county felt a need to respond to a demand to pre-pay.

More news: Liverpool boss Klopp holding talks with Mignolet over form and focus

NJ Gov. Christie orders towns to accept 2018 tax prepayments