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US homeowners rush to pre-pay 2018 tax ahead of deduction cap

Tax overhaul recently signed by Trump caps deduction for state and local levies, including property tax, at US$10,000

Published Wed, Dec 27, 2017 · 09:50 PM
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Washington

HOMEOWNERS in American states with the highest property taxes are looking to pre-pay their 2018 bills ahead of a US$10,000 cap on the deduction for state and local levies, including property taxes, in the tax overhaul that US President Donald Trump recently signed.

In New York, residents are peppering local officials with questions about how to pre-pay their 2018 property tax bills in the current year in the hope of deducting them from 2017 taxes, The New York Times reported.

In New Jersey, state Senate President Stephen Sweeney has asked Republican Governor Chris Christie to make it easier for residents to pay their entire 2018 property tax bill by Dec 31…

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