Government

Chatham Township Advises on Allowed Pre-Paying of Real Estate Taxes Under New Tax Code

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At the present time, the IRS allows individuals to take a deduction on their Federal Income Tax Return for real estate taxes, for which they were billed and paid. Due to pending changes to the tax code, many taxpayers are thinking about pre-paying future taxes. 

Chatham Township taxpayers may choose to pre-pay the first two quarters of 2018 by December 31. Taxpayers choosing to pay more than the first two quarters of 2018 will have those amounts applied to their account as an overpayment. 

Prepayments may not benefit those individuals subject to the alternative minimum tax. The Township makes no representation concerning the deductibility of any prepayments made. It is strongly recommended that homeowners interested in prepaying their 2018 real estate taxes should check with a tax professional before making the payment.
 

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