Although the next installment isn’t due until May, an increasing number of local residents are opting to pre-pay their property taxes.
As of Wednesday afternoon, about $200,000 in pre-payments had been received at the Bartholomew County Treasurer’s Office, representative Mark Stamper said.
The recently approved national tax reform bill legislation includes changes in the ability to deduct state and local taxes from federal returns. With that, some financial advisors are encouraging their clients to pre-pay taxes in order to avoid a potential tax hit next year, Treasurer Pia O’Connor said.
Early payments of estimated taxes have always been made and accepted. Most often, however, it has been done by Bartholomew County residents who spend winters in warmer climates, as well as those owning multiple properties who can benefit through itemization, Stamper said.
While it cannot be confirmed that the upcoming tax reform was the motivator for the increase in early payments, both O’Connor and Stamper agree there have been a higher-than-normal amount of pre-payments received.
Although today is the last day of the year that O’Connor’s office will be open, payments can still be left through the weekend in the drop-box at 440 Third St., across from the Crump Theatre.
Pre-payment of property taxes can be made at the Bartholomew County Treasurer’s office, 440 Third St.
When trying to determine estimated taxes, treasurer Pia O’Connor recommends that people pay what they paid this year. The treasurer’s office accepts cash or checks.
Although today is the last day the treasurer’s office will be open this year, pre-payment of taxes can still be placed into a drop box at the office, located across from the Crump Theater.
For questions, call the treasurer’s office at 812-379-1530. Office employees cannot provide tax advice, however.