(INDIANAPOLIS) – The IRS is warning taxpayers playing “beat the clock” with your property taxes may not work. But Hoosiers should be in the clear.
Next year, there’ll be a new $10,000 limit on the deduction for state and local taxes. Some people have been prepaying next year’s property taxes to take the full deduction while they can. The IRS now says you can’t do that unless the assessment for your 2018 bill was made in 2017.
IRVINE, Calif., April 6, 2017 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s largest fused property database, today released a 2016 property tax analysis for more than 84 million U.S. single family homes, which shows that property taxes levied on single family homes in 2016 totaled $277.7 billion, an average of $3,296 per home and an effective tax rate of 1.15 percent.
The report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county level along with estimated market values of single family homes calculated using an automated valuation model (AVM). The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.
CHICAGO – Chicago residents are already grumbling about the likelihood of paying significantly higher property taxes this year, and the bills haven’t even been sent out yet.
Source: Tax bills heading up for Chicago property owners
CROWN POINT — Lake County Treasurer Peggy Katona said her offices will have extended hours Tuesday, the final day for paying the spring installment of this year’s property tax bill.
The Appeal Deadline is May 23rd. Give Innovative Property Tax Solutions a call today to see how we can save you from overpaying on your property taxes. 219-472-8682
INDIANAPOLIS — Indiana’s second tax amnesty period in the past decade began Tuesday, giving delinquent taxpayers a two-month window to pay off their tax debt without enforcing the penalties, interest and collection fees that have accumulated.
Whether the Porter County Administration Building needs greater security in light of a threat made by a man unhappy with his property tax assessment who allegedly threatened to return with a gun is up for debate.
Calling property taxes “unethical, unchristian-like and above all, it is thievery,” tax protester Steven Piotrowski finally paid off his 2013 Montgomery County property taxes this week, preventing a sheriff’s sale at the last minute. He would not, however, go quietly. He initially decided to make a statement by paying off his bill with 83,160 pennies.