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Texas property tax prepayments subject to new IRS deduction cap


RELATED: How will tax overhaul affect Houston economy, real estate market? "Unfortunately it looks like the IRS canceled the run on property tax prepayments for next year in Texas," said Bettencourt, a former Harris County tax assessor-collector.


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By Katherine Blunt Updated 4:29 pm, Thursday, December 28, 2017 Paul Bettencourt says IRS guidelines, released Wednesday, "clearly indicate that Texans would not receive a deduction for prepayment" on 2018 property taxesPhoto: Taelor Smith" class="landscape" /> The new federal tax overhaul curbs how much homeowners can deduct for property taxes.See where Texas ranks among the highest property taxes Photo: Christian Abraham, Hearst Connecticut Media / Connecticut Post" class="landscape" /> Rhode Island Effective real estate tax rate: 1.63%State median home value: $238,000Annual taxes on home priced at state median value: $3,884Source: WalletHub Photo: Jumper, Getty Images / (c) Jumper" class="landscape" /> window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-5', placement: 'Interstitial Gallery Thumbnails 5', target_type: 'mix' }); _taboola.push({flush: true}); Vermont Effective real estate tax rate: 1.74%State median home value: $217,500Annual taxes on home priced at state median value: $3,795Source: WalletHub Photo: Gallo Images/Danita Delimont, Getty Images / (c) Gallo Images/Danita Delimont" class="landscape" /> MichiganEffective real estate tax rate: 1.78%State median home value: $122,400Annual taxes on home priced at state median value: $2,174Source: WalletHub" class="landscape" /> Nebraska Effective real estate tax rate: 1.85%State median home value: $133,200 Annual taxes on home priced at state median value: $2,467Source: WalletHub Photo: Nati Harnik / AP" class="landscape" /> Texas Effective real estate tax rate: 1.9%State median home value: $136,000Annual taxes on home priced at state median value: $2,578Source: WalletHub Photo: Skyhobo/Getty Images" class="landscape" /> window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-10', placement: 'Interstitial Gallery Thumbnails 10', target_type: 'mix' }); _taboola.push({flush: true}); WisconsinEffective real estate tax rate: 1.96%State median home value: $165,800 Annual taxes on home priced at state median value: $3,248Source: WalletHub Photo: Luiz Felipe Castro, Getty Images/Flickr Open / Flickr Open" class="landscape" /> Connecticut Effective real estate tax rate: 1.97%State median home value: $270,500 Annual taxes on home priced at state median value: $5,327Source: WalletHub" class="landscape" /> New Hampshire Effective real estate tax rate: 2.15%State median home value: $237,300Annual taxes on home priced at state median value: $5,100Source: WalletHub" class="landscape" />

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