Re: pre-paying 2018 taxes

Posted by Dolomiti on 2017/12/28 14:59:01
Quote:

mscottc wrote:
It would be really helpful if the Jersey City tax office could post "Preliminary assessments for the 3rd and 4th qtrs, 'subject to the affects of the tax re-val" on the online website." They could just mirror the 1st and 2nd qtr payments. That would help get around the most recent IRS Statement.

Sorry, but it won't.

The property has to be assessed prior to 2018. Thus, the issue is that they won't let you deduct it for tax year 2017, if you are paying an estimate of 2018's property taxes.

Sounds like JC is screwed, because we're in the middle of a reval.

https://www.irs.gov/newsroom/irs-advis ... assessed-and-paid-in-2017

Basically, this is what happens when you pass a new tax law at the 11th hour, without clearly explaining what's in the law.

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