News Alert: Confusion reigns as people try to figure out property tax rules

View in your browser     Confusion reigns as people try to figure out property tax rules Confusion is reigning in cities and suburbs with high property taxes as homeowners weigh prepaying their 2018 property taxes in order to avoid a bigger bill once the Trump cuts take effect. Taxpayers worried that they’ll lose out because of a new $10,000 limit on state and local tax deductions, including property taxes, are scrambling to pay their 2018 property taxes in 2017 so that they can deduct the full amount before the tax changes go into effect. Elected officials in places such as New York and Washington, D.C., have been highlighting the prepayment option. In some communities, long lines have formed outside of government offices so that people can prepay. But a number of people who have prepaid won’t actually benefit for doing so, and that number is only going up as a result of guidance the IRS issued late Wednesday. Read the full story here           Did a friend forward you this email? Sign up for News Alerts     Forward News Alerts     You Might Like       Privacy Policy  |  Manage Subscriptions  |  Unsubscribe  |  Email to a friend  |  Sign Up for Other Newsletters   The Hill 1625 K Street, NW 9th Floor, Washington DC 20006 ©2016 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc.