Tax overhaul leads to end-of-year rush to pay property bills
CHERRY HILL, N.J. — In a season of sales, homeowners in affluent towns across the country are rushing to take advantage of a deal that they hope will save them big.
Tax collectors in many communities are seeing a surge in property tax prepayments before 2018 in an effort to cash in — for one last year — on a deduction that the coming tax overhaul will limit.
The tax office at the Cherry Hill Township building in New Jersey saw a steady stream of property owners on Friday.
One man said his buddies at an early-morning hockey game said it would be a good idea to prepay. A couple was there because their accountant called to recommend it. And Ron Brand — an accountant, though he doesn’t do other people’s taxes — was there with $15,000 to pay a full year’s worth of 2018 property taxes.
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