Why you may want to accelerate your property tax payment into 2017
Accelerating deductible expenses, such as property tax on your home, into the current year typically is a good idea. Why? It will defer tax, which usually is beneficial. Prepaying property tax may be especially beneficial this year, because proposed tax legislation might reduce or eliminate the benefit of the property tax deduction beginning in 2018.
Proposed changes
The initial version of the House tax bill would cap the property tax deduction for individuals at $10,00