Prepaying taxes

[radioman]

i dont see the point. my property taxes is not over 10k , income less then 100k so no need to panic on my end. besides taxes are not due till next spring so without the bill, not going to do a thing.

 

[Kentuckyfarmer]

None of the news articles that I have seen and no one here has suggested just maybe these high tax states could learn to get by with less like the other states have done.
Tax and spend!

I agree. Maybe vote different people in office. According to the news anything over 10k in property can't be used as a deduction. There was the governor of NJ on tv the other day and he said his property taxes was over 41k a year. I couldn't believe it. I had 40 acres in Wyoming and taxes were $8.60 a year and they gave me the option to make two payments. The property taxes here are 14 hundred a year and in two years I'll be able to file under the homestead act and it will go down about 360 a year. There's no way I could pay anymore than I do now let alone anything like 10,000. Every time you fill up your car or truck, every time you go to Walmart or the grocery store, vehicles get taxed, property taxes, federal income taxes, state income taxes, and if you live in town your probably paying city taxes, taxes on the electric bill, water bill, gas bill for heating your house and there are probably lots more I'm leaving off but I think we pay enough taxes.

 

[MossRoad]

I agree. Maybe vote different people in office. According to the news anything over 10k in property can't be used as a deduction. There was the governor of NJ on tv the other day and he said his property taxes was over 41k a year. I couldn't believe it. I had 40 acres in Wyoming and taxes were $8.60 a year and they gave me the option to make two payments. The property taxes here are 14 hundred a year and in two years I'll be able to file under the homestead act and it will go down about 360 a year. There's no way I could pay anymore than I do now let alone anything like 10,000. Every time you fill up your car or truck, every time you go to Walmart or the grocery store, vehicles get taxed, property taxes, federal income taxes, state income taxes, and if you live in town your probably paying city taxes, taxes on the electric bill, water bill, gas bill for heating your house and there are probably lots more I'm leaving off but I think we pay enough taxes.

It all depends on where you live. While we pay relatively low taxes at our house (about $600 tops), and our rural undeveloped 20 acres is also about $600, you take this exact same house and move it 30 miles north to within 1/4 mile of Lake Michigan and the taxes are over $15,000 per year.

 

[goeduck]

My property taxes are a little over $10K a year but it is all over the news here that the county cannot and will not take 2018 payments now.

 

[ultrarunner]

Second Installment in California is due in 2018 but we get the tax bill with the first installment so there are lines of people paying early...

Seems I have a knack for significant tax bills... in fact taxes of all kind total to be my single biggest expense by far.

California... 1957 original 1725 square foot home is 11k... the sellers were paying $1200

Washington my property tax is now over 12k... when I bought it was $6800...

Washington and California total 24k currently in property tax... sobering figures.

 

[MossRoad]

Check out this site and see if your tax rate is accurate to what the site says it is. Ours is pretty close at a tad over 1%.

Indiana Property Tax Calculator | SmartAsset.com

 

[MossRoad]

Property tax rates in Indiana are capped a maximum of 1% of value for residential, 2% of value for rental and farmland, and 3% of value for all other types (the actual rates may be higher, but the maximum paid after deductions is capped through a "circuit breaker" tax credit).

from here
Taxation in Indiana - Wikipedia

 

[wngsprd]

Don't forget to coordinate with your mortgage company if they escrow your real estate taxes. Otherwise you might pay double next year. Although you would not lose that money, it affects your cash flow.

 

[Dutch445]

Don't forget to coordinate with your mortgage company if they escrow your real estate taxes. Otherwise you might pay double next year. Although you would not lose that money, it affects your cash flow.

exactly, i was told that i need to bring in my paid reciept and cancelled check by Jan 13th, and they would reimburse me.. we'll see!

 

[Ortimber]

I am not going to prepay my taxes. We only pay about $2700/yr and I believe I had heard we aren't allowed to prepay anyhow. I have a relative that pays $45K/yr in property taxes. I haven't asked him what his plan is. Yikes!