City officials announced this morning that the City of Elizabeth’s Tax Collection Office will be open on Saturday, Dec. 30th to allow property owners to prepay their taxes for the upcoming 2018 year.
“As a result of the new federal tax law, which is set to take effect on January 1, 2018, the city is allowing residents to prepay next year’s property taxes before they lose the ability to deduct the entire bill on their federal taxes,” said Mayor J. Christian Bollwage. “If providing constituents with more opportunities to pay their tax bill early, in order to achieve savings, then we are happy to do that for them.”
The Tax Cuts and Jobs Act, which was signed into law by President Donald Trump on Friday, caps the amount of state and local taxes a property owner can deduct on their federal income tax return at $10,000. In an effort to mitigate the impact of the new federal cap on tax deductions, the Tax Collector’s Office, which is located on the first floor of City Hall, will be accepting checks for prepayment throughout the week and from 10 a.m. to 2 p.m. on Saturday.
The city recommends residents to check with their own Financial Advisor for any tax- related questions. The city’s tax collectors will not be answering any questions regarding personal financial situations or providing tax advice.
In addition to this Saturday, the City of Elizabeth Tax Collector’s Office will also be open during its regular operating hours, which are 9 a.m. to 4 p.m., for the remainder of the week.
For more information, please call 908-820-4119.