IRS says 2018 property taxes may be deductible only if assessed and paid in 2017

• The IRS said Wednesday that people may be able to deduct their 2018 state and local property taxes only if they were assessed and paid during 2017.
• People can only deduct prepaid property taxes that have already been assessed by local governments.
• Prepayments of anticipated property taxes will not be deductible.

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