Dec

Homeowners in High-Tax States Race to Beat Property Tax Cap

Virginia county reports lines of residents seeking to prepay
New law caps deduction for state, local taxes at $10,000

Homeowners in states with the highest property taxes are looking to prepay 2018 bills ahead of a $10,000 cap on the deduction for state and local levies, including property taxes, in the GOP tax overhaul President Donald Trump just signed.

In New York, residents are peppering local officials with questions about how to prepay their 2018 property tax bills in the current year in the hope of deducting them from 2017 taxes, the New York Times reports…

Categories : Real Estate

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Homeowners in High-Tax States Race to Beat Property Tax Cap

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