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Old 12-22-2017, 07:43 AM
 
34 posts, read 114,312 times
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Is anyone going to pre-pay their 2018 property taxes before the federal tax reform bill takes effect? Any ideas on how to do it? I went to the Mecklenburg property tax site, but they only have instructions on how to view and pay 2017 bills.

If I mail a check for my estimated 2018 property taxes, would they accept it? I can't pay in person because I am travelling out of state for Christmas and won't be back until after New Year's.

I am single and currently itemize deductions, and I have done the calculations to conclude that I would be better off paying my 2018 property taxes now, if possible. Thanks in advance!
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Old 12-22-2017, 11:32 AM
 
Location: Boonies
2,427 posts, read 3,566,841 times
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akl432, I don't think prepaying for 2018 is going to work for you because when taxes are done and you claim property taxes, they go by the current year!
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Old 12-22-2017, 12:05 PM
 
34 posts, read 114,312 times
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Tarragon, thanks for the quick response. Could you explain? Thanks!

Last edited by akl432; 12-22-2017 at 12:55 PM..
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Old 12-23-2017, 08:44 AM
 
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,585 posts, read 81,206,701 times
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Though some tax advisors have suggested that, the IRS is not likely to accept a deduction for taxes not yet billed, and if audited, the bill will not be likely to match the deduction taken since they always go up. Our county has already come out with a statement that they will return any checks sent for property taxes that have not been billed. Check with your city/County.
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Old 12-25-2017, 07:51 AM
 
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No. We did make sure our mortgage will be paid in late December for the January 1st due date and we did pre-pay some charitable contributions and we paid our son's tuition for Spring semester in full.
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Old 12-27-2017, 11:07 AM
 
6,799 posts, read 7,384,076 times
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Wake County allows it: Prepaying Taxes & Payment Plans

Why don't you call Mecklenburg and ask?
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Old 12-27-2017, 07:53 PM
 
386 posts, read 366,395 times
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Year-to-year, how many residential property owners experience unsolicited lower property taxes? Apparently, the IRS and multiple municipalities are accommodating reasonable pre-payment estimates.
Related Washington Post article
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Old 12-28-2017, 06:17 AM
 
6,799 posts, read 7,384,076 times
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The IRS says hold up:

"A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017."

NC doesn't assess taxes until after the tax rate and budget is adopted in June of each year.

https://www.irs.gov/newsroom/irs-adv...d-paid-in-2017
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Old 12-28-2017, 02:55 PM
 
34 posts, read 114,312 times
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Thank you, everyone, for the responses!
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