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- Jan 6, 2013
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Property taxes in California are due in in two installments, in the Fall and Spring. Currently, they are deductible from income for federal income tax purposes.
In the original proposal, property taxes up to $10,000 would continue to be deductible. From what I read, that may not be the case in the final bill, and the changes will apply to 2018.
I'm thinking about paying the entire amount of the 2017-18 bill in early December. Despite Prop 13, the taxes are not insignificant. Is anyone else considering betting on losing the deduction and shifting the property taxes due in the spring into this year?
In the original proposal, property taxes up to $10,000 would continue to be deductible. From what I read, that may not be the case in the final bill, and the changes will apply to 2018.
I'm thinking about paying the entire amount of the 2017-18 bill in early December. Despite Prop 13, the taxes are not insignificant. Is anyone else considering betting on losing the deduction and shifting the property taxes due in the spring into this year?