In our area, the Lower Merion Tax Collector said in an email to the Main Line Media News that it is not possible for homeowners to pay their 2018 property taxes before the end of this year, MONTCO.Today reported Wednesday. 

New Jerseyans worried about a higher federal tax bill next year, thanks to the GOP’s tax overhaul, may get the chance to pay less if they pay up now.

Gov. Chris Christie Wednesday signed an executive order requiring cities and towns across the state to allow residents to pay next year’s property taxes through Dec. 31, writes Joe Hernandez for WHYY in Philadelphia Business Journal. 

[uam_ad id=”54865″]

The federal tax law taking effect Monday caps state and local income and property tax deductions at $10,000. Previously, there was no limit.

That means residents accustomed to writing off their pricey property tax bills on their federal returns may no longer enjoy that benefit starting next year.

In a state with notoriously high property taxes and some of the richest counties in the U.S., that change could have a major impact on a large number of New Jerseyans.

“It could affect someone who has more than one home, such as a Shore home,” said Michael Cerra, deputy executive director of the New Jersey League of Municipalities. “It could also affect commercial properties, small businesses.”

To read the complete story click here. 

[uam_ad id=”54875″]