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Putnam County leaders detail property tax pre-payment information

Putnam County Executive MaryEllen Odell advises taxpayers who have their property taxes escrowed as a part of their mortgage payment, to contact their lender regarding whether or not pre-payment of property taxes is permitted.  Odell says Putnam County takes no position on the deductibility of pre-paid property taxes and advises each taxpayer to consult their tax professional. 

 

Governor Cuomo signed an Executive Order directing collecting officers to accept partial payments of those payments, since there may be cases where the exact amount due is not yet known.  

 

A $10,000 cap on state and local tax deductions goes into effect next year.  The IRS has issued guidance saying that some homeowners who pay real estate taxes due in 2018 will be able to claim the deduction by paying early, but only if the taxes were assessed in 2017.

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