Find Real Estate Agents and Homes for Sale


Real Estate News --> Connecticut News

CT homeowners scramble to prepay property taxes by year’s end


Other Connecticut communities, such as New Canaan and Stamford, are accepting early payments of real estate and motor vehicle taxes due Jan. 1. The IRS has issued an advisory that hasn't helped to clarify the issue for many state residents.


Archived Story

&pcode='>"}}}},"ComScoreOoyalaPlugin":{"publisherId":"18314522","labelmapping":"c3=\"WTIC\", c4=\"*null\", c6=\"*null\", ns_st_st=\"WTIC\", ns_st_pu=\"WTIC\", ns_st_pr=\"*null\", ns_st_ep=\"*null\", ns_st_sn=\"*null\", ns_st_en=\"*null\", ns_st_ge=\"*null\", ns_st_ti=\"*null\", ns_st_ia=\"0\", ns_st_ce=\"*null\", ns_st_ddt=\"*null\", ns_st_tdt=\"*null\""},"google-ima-ads-manager":{"showAdControls":true,"useGoogleCountdown":true,"additionalAdTagParameters":{"referrer_url":"http:\/\/fox61.com\/2017\/12\/29\/state-tax-deduction-how-the-gop-tax-bill-will-affect-ct-residents\/"}},"Nielsen":{"apn":"Ooyala V4","isfullepisode":"N","title":"CT homeowners scramble to prepay property taxes by year’s end","program":"News","hasAds":"1","airdate":"20171229 09:22:22"},"iosPlayMode":"inline"}]))); }); Please enable Javascript to watch this video HARTFORD –- Thousands of residents in Connecticut have been flooding local tax assessor offices to figure out how the GOP tax overhaul will hit homeThe likeliest problem for many will be the $10,000 local and state tax deductions cap. “This legislation was in many respects a fiscal lynch mob directed at blue states I don't know how to put it in any other way,” said Kevin Sullivan, Department of Revenue Services Commissioner“This has happened so fast it caught most people by surprise.” Beginning in FY2018-2019 residents may not deduct more than $10,000 in state and local payments from their federal taxes, which, for higher taxed areas of Connecticut such as Fairfield County and West Hartford, could prove problematic, Democratic GovDannel PMalloy does not plan to sign an executive order requiring pre-payments of local property taxes, a move that would let residents deduct the payment from federal taxes early. Ben Barnes, Malloy's budget director, told municipal leaders Wednesday it's impractical to mandate that municipalities accept pre-payments because communities have not yet set tax rates for the new fiscal year, which begins July 1Also, he says property tax collection is a local, not a state, matter. New York's and New Jersey's governors signed orders requiring municipalities to accept pre-paid local taxes before a $10,000 cap on state and local tax deductions goes into effect next year. Other Connecticut communities, such as New Canaan and Stamford, are accepting early payments of real estate and motor vehicle taxes due Jan1. The IRS has issued an advisory that hasn't helped to clarify the issue for many state residents. 41.763711 -72.685093 Filed in: News Topics: Hartford, taxes Suggest a correction × Suggest A Correction Your name Your email Report a typo or grammatical error Cancel FacebookTwitterPinterestLinkedInGoogleEmail window._taboola = window._taboola || []; _taboola.push({"mode":"thumbs-3r","container":"taboola-below-article-thumbs-hybrid-mix","placement":"below-article-thumbs-hybrid","target_type":"mix"}); window._taboola = window._taboola || []; _taboola.push({"mode":"hybrid-text-links-2c","container":"taboola-below-article-text-links","placement":"below-article-text-links","target_type":"mix"});

Trending Connecticut News:


  • Real Estate Sales Leader Joins Douglas Elliman In Greenwich
  • Caitlin Murphy-Kennelly, Peter Wells
  • GE Capital Boosts Lending as CMBS Market Wavering
  • 11 Years Later, Memories Of a Sad Day on 'The Pile'
  • Lambda Legal Elects New Members to Board of Directors and Appoints New Co-Chair
  • Luxury Sales Continue to Bounce Back, Brokers Say
  • Hfd. Keller Williams expands eastern CT reach
  • Beverly's on Bantam Lake deal finalized (UPDATED)
  • 55 Brookwood Dr Apt A
  • CV Holdings, Inc. announces the acquisition of Centra Leasing, Inc. and formation of CV Capital Funding, LLC
  • William Pitt Sotheby’s showcases Darien High students’ art with Sunday exhibit
  • 1911 Connecticut mansion priced at $32 million
  • Tierney joins Klemm Real Estate firm
  • GE 2Q profit jumps 13 pct on aviation, oil and gas
  • Milford, CT Real Estate: Newly Listed Homes for Sale
  • Growth in ‘flipping’ homes reported by RE/MAX
  • Cops: Connecticut real estate agent stole for sale signs
  • 10-K: MONMOUTH REAL ESTATE INVESTMENT CORP
  • Smart MLS is Born with Merger of Connecticut’s Largest MLSs
  • GE To Sell $26.5 Billion in CRE Assets