Why People are Lined up at the Olmsted County Tax Office
It may save you big money... or not.
Are you willing to stand in line to find out?
While it hasn't been officially announced whether or not you'll be able to claim your 2018 taxes on this year's tax return, it hasn't stopped people from lining up to take that chance.
Offices in the cities have extended hours because of the rush of people trying to get in to pay the property taxes. Meanwhile, in Olmsted County, they said they've had a steady rush since Trump signed the bill setting a $10,000 cap on property tax deductions starting next year.
According to the Post Bulletin, the county had seen more than $2.7 million in prepaid property taxes by Wednesday. That is already more than double prepaid taxes collected last year.
Things to keep in mind:
- The deadline is Friday, December 29th (unless you pay online. Then your deadline is Sunday, December 31st)
- You'll need to call your bank to inform them you've paid ahead of time
- Since you haven't received a statement for next year, you'll be guessing how much to pay. So there is the possibility of overpaying OR underpaying. If you overpay more than $20, you'll be reimbursed. Less than $20, you will not.