Montco residents aren’t permitted to prepay taxes

By

If you turned 50 this year, you're entitled to a catch-up contribution of $6,000 for your 401(k), and there's still time left in 2018.(MONTCO.today file photo)

Montgomery County has been receiving numerous inquiries from individuals seeking to prepay real estate taxes for 2018. Under Pennsylvania law, Montgomery County tax collectors are not permitted to accept prepayment for these taxes.

“The county understands that our residents are concerned by the recent changes in the tax bill, and our staff is working hard to understand how those changes impact our taxpayers,” said Jason E. Salus, Montgomery County Treasurer. “However, given existing state law, it is not possible for Montgomery County residents to prepay their 2018 property tax,” according to Digital First Media.

[uam_ad id=”54865″]


In light of a Dec. 27 advisory from the IRS, Montgomery County residents would not get the benefit of deducting property taxes, even if paid before the new year. Taxpayers are not eligible for the deductions until the tax bill has been issued with an updated assessment. See the complete IRS advisory here.

While several neighboring counties have been able to accept prepaid property taxes, it is because they are governed by Home Rule charters and, in some cases, have already issued tax assessments. Montgomery County, as well as Bucks, Chester, and other counties not governed by Home Rule must work within the confines of the tax collection requirements imposed by the Commonwealth.

The new tax plan puts a $10,000 cap on the deduction for state and local taxes, including property – essentially doubling the standard deduction. It’s a change that has caused a flurry of activity in high-tax states like New York, where Gov. Andrew Cuomo – a Democrat and frequent critic of the Trump Administration – took steps to allow residents to prepay their taxes, according to The Hill.

[uam_ad id=”54875″]

Stay Connected, Stay Informed

Subscribe for great stories in your community!

"*" indicates required fields

Hidden
MT Yes
This field is for validation purposes and should be left unchanged.
Advertisement