2018 Property Tax Payments Keeping Olmsted County Workers Busy
Rochester, MN (KROC AM News) - There was a steady stream of Rochester area residents at the Olmsted County Government Center Friday morning.
All had their checkbooks and 2018 property tax information forms with them as they join others around the state and country who are hoping to benefit from pending changes in their income taxes.
The tax bill recently signed by Pres. Trump has capped the amount of property taxes that can be deducted, beginning next year. Changes in the standard deduction also means many taxpayers will no longer benefit from taking traditional deductions. Tax experts have said many taxpayers will benefit if they pay their 2018 property taxes this year, as they can count as a deduction for the 2017 tax year.
Heather Bestler is overseeing the Olmsted County property tax collections and says as of 8:00 AM Friday, payments of 2018 taxes had climbed to $6.6-million, more than five times the total from last year. The total in 2015 was $500,000.
Bestler says the reported tax benefit appears to be in a gray area. She says even though local governments have already approved and certified next year’s property taxes, her department won’t certify them until February.
The IRS Wednesday issued a statement on the subject.
For those who can’t make it to the Government Center before 5:00 PM Friday, Bestler says checks can be mailed in and will count as a 2017 payment if they are postmarked by Jan. 2nd.
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