Some Ny Homeowners Are Rushing To Pay Property Taxes

12.27.17 | Traci Lynn Woolsey

Counties and towns across the Empire State are scurrying to get tax bills out to residents before the new federal tax-plan takes effect.

Last week, Governor Cuomo signed an executive order to suspend any law blocking residents from next year's taxes and filing them early.

Accountant Mark Tronconi says prepaying may allow taxpayers to take an itemized deduction by paying this year, in case a similar deduction won't be available in 2018.

While there are just two business days left to pay the taxes early, experts warn that prepayment may not be best for everyone.

The new federal plan puts a $10,000 cap on deductions of state and local income, including property taxes.