Re: pre-paying 2018 taxes
Posted by SOS on 2017/12/28 12:41:11
Yes, indeed, the 2017 AMT is a very relevant detail. Another is if taxes are paid by a bank out of mortgage escrow which will be the situation for many property owners.
That is the case for me. I have checked and so far my bank is saying they will not adjust my escrow for the prepayment. Additionally I will have to wait until my annual escrow analysis to be rebated.
The bank that holds my mortgage (large national bank) asked me to send proof of payment using their secure messaging system - PDF (not jpg, etc.). I'm sending a screenshot from the city website that shows the payment received and also the email receipt from the processing company that the city uses. I made the payment online.
There's lots of FUD going around. If you have the spare cash and if your CPA or due diligence supports the decision, go for it. The potential saving isn't huge, but better than nothing.
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