Guilderland Supervisor expects rush of residents pre-paying property taxes
GUILDERLAND, NY – The Supervisor for the Town of Guilderland is expecting Town Hall to be busy over the next few days, as residents rush to pre-pay their 2018 property taxes.
Guilderland is just one of several towns in the Capital Region expecting residents to prepay to take advantage of deductions that may be going away.
“The new tax bill means that, because it’s going to double the standard deduction, far fewer people are going to take the itemized deduction “, said Peter Barber, the Town Supervisor.
With the sweeping tax reforms recently passed in Congress... changes are on the way to how much you can deduct on your return... Guilderland officials point out the new cap for 20-18 will be 10,000 dollars for property and state income tax payments.
“My 2018 taxes, I’m paying them in 2017 so I can get whatever tax benefit I can”, said Neil Hansen of Guilderland.
Tom Donovan is a tax preparer for Marvin and Company in Latham, he says everyone’s situation is different, but he’s been giving his clients consistent advice.
“Virtually every property owner should be considering prepayment”, Donovan said.
The IRS is offering tips as well, click the link for more information: https://www.irs.gov/newsroom/irs-advisory-prepaid-real-property-taxes-may-be-deductible-in-2017-if-assessed-and-paid-in-2017