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2018 Tax Prepayment Information for Property Owners
Proposed changes in federal tax policy may reduce the deduction for local property taxes in 2018. For this reason, it might be in the financial interest of property owners in the City of New Rochelle to pre-pay 2018 property taxes before the end of this year to maximize their 2017 deduction.
Accountants or financial advisors should be consulted to better understand individual circumstances and options. If prepayment is the right financial option, there are two tax bills available for prepayment now:
School Taxes- Second Half: the second installment of the 2017/2018 school tax bill (due April 30, 2018)
City Taxes- Annual: the 2018 City tax payment (due January 31, 2018)
“Prepayment of taxes could potentially save residents thousands of dollars if, as proposed, the new tax law imposes a $10,000.00 limit on deductibility of property and local taxes in 2018,” said New Rochelle Council Member Barry Fertel.
Tax bills can be accessed online through the City website. Please note that to pay school taxes, search year 2017; and to pay City taxes, search year 2018. Each tax bill must be paid separately. There are several payment options:
Taxpayers who have a mortgage and have their taxes paid by their lender through an escrow account should contact their lender directly for prepayment options.
For more information, contact the Tax Office at (914) 654-2059.