Homeowners take advantage of pre-paying property taxes

The new tax reform bill will not prevent the time-honored practice of prepaying property taxes

Senate Majority leader Mitch McConnell of Ky., speaks as President Donald Trump, House Speaker Paul Ryan of Wis., and Sen. Tim Scott, R-S.C., right, listen during a bill passage event on the South Lawn of the White House in Washington, Wednesday, Dec. 20, 2017, to acknowledge the final passage of tax cut legislation by Congress. (AP Photo/Evan Vucci)

AGAWAM, Mass.—Wednesday’s House and Senate passage of the new Tax reform bill, serves as a reminder of the advantages of paying your 2018 property taxes this year.

Home-owners have always been able to pre-pay property taxes, but some local treasurers told 22News they’ve seen more people doing it this year with the new tax reform set to become law.

The new tax reform bill will not prevent the time-honored practice of prepaying property taxes, and some home-owners are taking advantage.

Agawam Treasurer Laurel Placzek said uncertainty as to whether or not homeowners will be able to deduct property tax payments from their income tax in 2018 may have motivated some people to pre-pay by December 31.

“Our tax bills generally are mailed on the last day of the year. This year we’re sending them out on the 26th so if they really want to pay, they have the amount available to them,” Placzek said.

Placzek said after discussing tax reform at a meeting with other Hampden County treasurers last week, several communities said they would be sending their quarterly bills out on the 26th this year instead of in January.

The West Springfield collectors office told 22News that homeowners pre-pay property taxes every year just before the year ends; that way they can deduct next year’s property taxes against this year’s gross income.

“It wont affect people this year, but next year people are going to be really worried about how it’s going to really affect us I think. I guess I’m not surprised people are having the forethought to do stuff so they don’t get taxed later on,” Agawam resident Rhonda Blanton said.

There’s no penalty to pre-pay your property taxes, and the tax reform bill will not change that.