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Some Paying 2018 Taxes Early Because of Tax Bill

Some people are eager to pay their 2018 taxes early, because of the new tax bill. Some people are eager to pay their 2018 taxes early, because of the new tax bill. |  Photo: WDIO

December 22, 2017 02:25 PM

The St. Louis County Auditor's office is fielding extra calls and emails about paying property taxes early this year. That's because of the new tax bill that was just signed on Friday by President Trujp.

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They are likely trying to take full advantage of the State and Local Tax (SALT) deduction one more time. The deduction will be capped at $10,000 beginning in 2018 under the new legislation.  

According to the county, people can certainly pay the amount listed on their Truth in Taxation statement that was sent out earlier this fall. However, any payments that are received now cannot be recorded as a prepayment for next year, but rather will be listed as an over payment of 2017 taxes.  

"Our system is not set up to take the prepayments. We will take the money, and it will be transferred to their 2018 tax bill once those go out in February," explained Brandon Larson, Tax Division Manager. 

Additionally, Auditor Don Dicklich reminds people, "We cannot give legal advice on whether paying early will be beneficial to a person's tax situation nor will we offer refunds early if it does not prove to be beneficial. I would recommend a person consult a professional tax accountant for that advice."  

If people still wish to pay their taxes early, they should send payment to:

St. Louis County Auditor, 100 North 5th Avenue West, Room 214, Duluth, MN 55802.

People should indicate on their payment that it is to be applied to 2018 taxes, so that county staff can manually track and move the funds later. People are advised to talk with their tax accountant for any other questions.       


WDIO

Copyright 2017 WDIO-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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