What to Expect for 2017 Property Tax

For our friends and clients residing in Monroe County, Illinois... Monroe county announced on their website that the treasurer’s office anticipates mailing property tax bills in late November of 2018 for the 2017 tax year. The due dates will probably be in January and February of 2019, but this is not yet finalized. The IRS states that property taxes must be assessed and paid in the year you take the credit on Schedule A Real Estate tax. If you anticipate itemizing in 2018 even with the higher standard deduction and the SALT cap of $10k , you will want to make sure that you pay your property taxes in 2018. If the taxes are escrowed as part of your monthly mortgage payment, then notify your lender that you would like the taxes to be paid in 2018, not 2019. Please feel free to call or email us with any questions!

P: 618-281-9700 or 417-833-8811 E: aschreder@obregonandassociates.com