Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-26-2017, 07:29 AM
 
149 posts, read 280,567 times
Reputation: 35

Advertisements

I am not a tax expert. Hence be easy. I was told it would make sense to pay property taxes in advance with the recent Federal tax bill overhaul. So I called Fulton county tax commissioners office and asked if I can pay property taxes in advance for 2018. I told I know my tax bill for 2017 and I want to pay it in advance for 2018, just like my phone bill or cable bill which allow advance payments. Much to my surprise I was told the county would not accept advance payment. While I asked the clerk to escalate, I want to know if anyone on this forum tried. Please share your comments or suggestions.

TIA
Reply With Quote Quick reply to this message

 
Old 12-26-2017, 09:46 AM
 
Location: Ono Island, Orange Beach, AL
10,744 posts, read 13,386,955 times
Reputation: 7183
Quote:
Originally Posted by ridesmart View Post
I am not a tax expert. Hence be easy. I was told it would make sense to pay property taxes in advance with the recent Federal tax bill overhaul. So I called Fulton county tax commissioners office and asked if I can pay property taxes in advance for 2018. I told I know my tax bill for 2017 and I want to pay it in advance for 2018, just like my phone bill or cable bill which allow advance payments. Much to my surprise I was told the county would not accept advance payment. While I asked the clerk to escalate, I want to know if anyone on this forum tried. Please share your comments or suggestions.

TIA
Given the substantial elimination of the state and local tax deduction on your federal return, you should do the math to see if this would be of benefit. Our accountant called me the other day to suggest that we pay our 2018 taxes in 2017. However, if you are subject to the alternative minimum tax, it may not be of much advantage, if any.

Here is a link to a fairly simple article regarding just this topic.

https://finance.yahoo.com/news/state...141500216.html
Reply With Quote Quick reply to this message
 
Old 12-26-2017, 10:07 AM
 
149 posts, read 280,567 times
Reputation: 35
Thanks AnsleyPark.
But my question is has anyone tried to pay the property taxes to Fulton county for 2018 in advance. I was told Fulton county would not accept, but the clerk sounded bit half knowledged. Anyone tried paying in advance?
Reply With Quote Quick reply to this message
 
Old 12-26-2017, 05:16 PM
 
2,167 posts, read 2,830,810 times
Reputation: 1513
How would you pre-pay 2018 property taxes when assessments havent been completed, and millage rates haven't been determined? They won't even know how much you actually owe in property tax until the third quarter of 2018.
Reply With Quote Quick reply to this message
 
Old 12-27-2017, 05:33 AM
 
2,074 posts, read 1,353,338 times
Reputation: 1890
Quote:
Originally Posted by ridesmart View Post
Thanks AnsleyPark.
But my question is has anyone tried to pay the property taxes to Fulton county for 2018 in advance. I was told Fulton county would not accept, but the clerk sounded bit half knowledged. Anyone tried paying in advance?
Unless your property taxes are over $10,000 there is no reason to pay them early. Paying early is only advantageous to people who live in high tax areas like New York, Maryland, California, Etc
Reply With Quote Quick reply to this message
 
Old 12-27-2017, 06:05 AM
 
149 posts, read 280,567 times
Reputation: 35
Quote:
Unless your property taxes are over $10,000 there is no reason to pay them early. Paying early is only advantageous to people who live in high tax areas like New York, Maryland, California, Etc
I normally itemize taxes with the current tax plan. With the proposed tax plan it may make sense next year to take standard deduction. If I could include the next year property taxes by pre-paying in to the taxes for 2017, I would be able to itemize them for 2017. At least that is the plan.

Quote:
How would you pre-pay 2018 property taxes when assessments havent been completed, and millage rates haven't been determined? They won't even know how much you actually owe in property tax until the third quarter of 2018.
I am talking about paying in advance based on 2017 data. These are estimated taxes. Some states/counties do allow that. If there is any difference in the payment vs actual, the difference will be settled in 2018 when actual data becomes available.
Reply With Quote Quick reply to this message
 
Old 12-27-2017, 06:09 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
Reputation: 16698
Quote:
Originally Posted by ronricks View Post
Unless your property taxes are over $10,000 there is no reason to pay them early. Paying early is only advantageous to people who live in high tax areas like New York, Maryland, California, Etc
This is my understanding also.
The op must live in a multimillion dollar house and if so would seem to be able to afford the bump in cost.
The other thing is even if the state allows you to pay early, the IRS may not allow it anyway.
Reply With Quote Quick reply to this message
 
Old 12-27-2017, 06:11 AM
 
562 posts, read 1,790,754 times
Reputation: 274
I do know the Cobb Commissioner said they would not allow early payments- so perhaps Fulton has the same stance.
Reply With Quote Quick reply to this message
 
Old 12-27-2017, 04:45 PM
 
2,167 posts, read 2,830,810 times
Reputation: 1513
[quote=ridesmart;50513431


I am talking about paying in advance based on 2017 data. These are estimated taxes. Some states/counties do allow that. If there is any difference in the payment vs actual, the difference will be settled in 2018 when actual data becomes available.[/QUOTE]


If the property isn't assessed until 2018, they wont allow you to deduct "estimated" taxes.

https://www.irs.gov/newsroom/irs-adv...d-paid-in-2017
Reply With Quote Quick reply to this message
 
Old 12-27-2017, 10:27 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
Reputation: 16698
Speaking of which I just heard on the radio tonight that you cannot pre-pay your property taxes. If you send in a check they will return it to you
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta

All times are GMT -6. The time now is 10:01 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top