NJ Governor Orders Towns To Allow For Property Tax Pre-Payment In Advance Of Trump Tax Changes
TRENTON, N.J. (CBS) -- New Jersey homeowners will be able to pre-pay part of their 2018 property tax bills to take full credit on their 2017 tax returns, in advance of changes in federal law coming with President Donald Trump's tax reform plan.
Some municipalities in the state are already setting things up to allow people to pre-pay, according to Gov. Chris Christie's executive order.
His action is meant to "ensure that New Jersey residents are receiving equal treatment throughout the state."
The directive mandates the director of the Division of Local Government Services to notify all municipalities in the state to allow for pre-payment of 2018 property taxes in 2017 as long as they are postmarked by Dec. 31. That's Sunday, not allowing for a whole lot of time.
It's thought people with real estate taxes topping $10,000 a year, the deductible limit under the tax change, will probably want to at least consider pre-payment, if they can act quickly.