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Can I pay my 2018 RE Tax for Massachusetts in 2017? I may…

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Can I pay my 2018...
Can I pay my 2018 RE Tax for Massachusetts in 2017? I may not be able to itemize in 2018, and I don't know the rules for MA. Also, what if my taxes come from escrow account? Can I still write a check for first two quarters of 2018?
Submitted: 8 months ago.Category: Finance
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Answered in 4 minutes by:
12/29/2017
Financial Professional: Carter McBride, Financial Advisor replied 8 months ago
Carter McBride
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 1,438
Experience: Adjunct Professor
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Hey! I'm Carter, I'm a CPA and can help you out with this.

In order to do that, you need the tax needs to be already assessed. Massachusetts does a preliminary assessment for real estate taxes in some areas, such as Boston. So as long as your area has an assessment for 2018 out, you can prepay that and deduct it this year.

If it does come from escrow, you can either call your bank and ask them to make the earlier payment or you can make the payment and notify the bank that the payment has already been made and does not need to be made out of escrow. The second option should end up in you getting an escrow refund when they refigure your mortgage escrow payments.

Hope that helps. If you need anything else, just let me know. If not, please leave a rating. Thanks!

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Financial Professional: Carter McBride, Financial Advisor replied 8 months ago

Hey! Just wanted to follow up and see if you need anything else. If not, please leave a rating. Thanks!

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