Legal Question in Tax Law in New Jersey

Pre pay property tax to get deduction in current year

If property taxes aren't due until March of 2004, can I pay them December 31, 2003 so I can include the deduction on my 2003 taxes?

Thank you!


Asked on 3/10/04, 8:40 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Pre pay property tax to get deduction in current year

Yes, but be sure that you notify the collector that you are prepaying the 1st quarter due on February 1. This also is madatory if you are paying state estimated taxes for the 4th quarter. To get the current deduction they must be paid by December 31st, even if not due to January 15th.

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Answered on 3/11/04, 10:35 am


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