With deduction changes, should you pay next property taxes now?
So, should you prepay your property taxes?
"For the vast majority of people, it falls under the category of, it can't hurt," said Geoff Harlow, head of the tax division for Deerfield-based accounting firm Kessler, Orlean, Silver & Co.
That's because if the bill passes, anyone whose combined income and property tax deductions could exceed $10,000 in 2018 and beyond will receive one last full benefit of the uncapped deduction this year. Plus they can claim the new increased standard deduction in 2018 -- $12,000 for single filers and $24,000 for joint filers -- essentially double the current rate. And if the bill doesn't pass, taxpayers will have next year's property taxes already paid.
Edited by Rogerdodger, 19 December 2017 - 07:27 PM.