Last-minute rush to prepay taxes gives rise to confusion, anger
The ire stems from the provision in the new US tax bill that caps the previously unlimited deduction for state and local taxes
New York
IN Hempstead, a Long Island town in New York where the typical property tax bill tops US$10,000, residents have lined up all week to prepay those taxes for next year.
They have been trying to save thousands of dollars before the new federal tax bill, which goes into effect on New Year's Day, sharply limits deductions for state and local taxes.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender
US mortgage rates up for fifth week at 7.22%