Turmoil Grows Over Disparity In Rules For Prepayment Of Property Taxes

What a mess!
A matter of immediate importance to many property owners – prepayment of property taxes – is rapidly descending into chaos and unfairness.
Can you prepay property taxes before the end of this year or not? You can for purposes of getting a deduction in 2017 under the new federal tax law, but the problem is whether your county will accept prepayment. It varies by county, which is obviously unfair, and reports are very confusing on what the rules are.
If you own in Cook County, try to prepay your 2017 taxes (due in two halves in 2018) and you’ll find that the county is only set up to allow you to pay 55% of the prior year’s tax. The place to do so is linked here.

This post was published at Zero Hedge on Dec 24, 2017.

 

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