Homeowners in states with the highest property taxes, like New York and New Jersey, are trying to prepay their 2018 property tax bills before the $10,000 cap on the state and local tax deduction goes into effect.
State Senate President of New Jersey, Stephen Sweeney, requested that Republican Governor Chris Christie make it easier for residents to pay their entire 2018 property tax bill by December 31st. Jersey City Mayor Steve Fulop, a Democrat, also wants homeowners in his community to be able to prepay their entire 2018 bills, per Bloomberg News.
The tax law, enacted just before Christmas, has prompted some local governments to revise their rules in a bid to facilitate the last-minute change in federal tax strategies. The Montgomery County Council in Maryland broke its winter recess to pass a bill allowing residents to prepay 2018 taxes, the Washington Post reported.
