mjackson123
Returning Member

Prepayment of 2018 property taxes in NJ.

NJ property taxes are assessed on October 1st of the year prior they are due.  The bill for the first two quarters of 2018 is fixed, and the last two quarters may be adjusted when the rates from the county are returned (mid-July).  If all 4 quarters for 2018 are prepaid in 2017 is the full amount deductible on the 2017 Federal tax return?