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Clarkstown, Orangetown Taxes: Pay Now, Save Later (Limited Time Offer)

Orangetown and Clarkstown residents will be able to prepay their 2018 town and county taxes before Jan 1 allowing them to fully deduct their town property tax on their 2017 income taxes before the new federal tax reform rules limit state and local tax deductions to $10,000.
Clarkstown Town Supervisor George Hoehmann says the Clarkstown’s Clerk’s office will accept payments in person on Thurs-Fri Dec 28-29 from 9a-7p. Clarkstown is working with its vendor to enable online payment beginning Thursday as well.
Andy Stewart, the outgoing Orangetown Supervisor, says his town is making plans to accept payments in person or online for Thursday and Friday as well.
According to Zillow, Westchester and Rockland counties own the #1 and #2 spots for highest median property tax in the US at $13,842 and $10,550, respectively. Who’s at the bottom of the list? Tunica County, Mississippi at only $216. The US median value for annual property taxes is $2,132.
An executive order by NYS Governor Andrew Cuomo on Dec 22 authorized local governments to issue tax warrants for the collection of 2018 property tax payments, allowing property owners to prepay their bill before the end of the year. According to the governor’s executive order, the federal Tax Cuts and Jobs Act passed by Congress will cost New York taxpayers an additional $14 billion. “New York has made unprecedented progress reducing the burden of taxes on our middle-class families, and we will not allow this attack to roll back all that we have achieved,” said Cuomo. “This Executive Order will allow property owners to deduct either part or the full amount of their payment from their federal taxes before the GOP tax bill goes into effect.”
What does this all of this mean to Rockland County property owners? Tax professional and Nyack CPA Joe Lux says that unless you are subject to alternative minimum tax, it’s a good idea to prepay and take the full deduction while you still can. “These prepayments will create 2017 tax deductions that may be lost if they are paid in 2018.”
Lux says that because 2018 tax deductions for payments of state and local taxes (income tax & property tax) will be limited to a combined total of $10,000 per year, property owners should consider prepaying in 2017, if possible. The only exception are people who are subject to the alternative minimum tax (AMT), who won’t receive the full benefit from additional S&L deductions. Lux says property owners should look at last year’s federal tax return to get a clue as to whether or not they will be subject to AMT in 2017. “If you were in the AMT for 2016 it is likely that you will again be subject to this tax for 2018,” Lux says taxpayers can find any AMT paid on page 2, line 45 of your 2016 form 1040. He also advises that it’s important to keep at least $10,000 of state and local tax deductions in 2018 so to maximize 2018 itemized deductions.
Clarkstown residents can call the Town Clerk’s office at 639-2010 or the Supervisor’s Office at 639-2050 with any questions.
Orangetown residents can call the Town Clerk’s office at 359-5100 ext 5004 or email TownClerk@orangetown.com.
 
 



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