It's not title insurance but NJ Biz, a report on New Jersey taxes from Vested Land Services LLC, the consumer's title insurance agency-
Murphy recommends changes to bill allowing prepaid property taxes
Gov. Phil Murphy has recommended certain technical changes to a
proposed bill that would permit New Jersey taxpayers to make dedicated
prepayments toward anticipated property taxes.
Murphy took
this action in response to President Donald Trump’s signing into law the Tax Cuts and Jobs Act, which
limits a person's maximum state and local property tax (SALT) deductions to
$10,000.
Murphy wants to
eliminate possible confusion in Bill 3382by
explicitly “clarifying that taxpayers may indeed prepay their property taxes,
regardless of whether the municipality had issued the quarterly tax bills prior
to submission of the prepayment. This clarifying language is retroactive to
July 1, 2017, and applies to any taxpayer who attempted to prepay a third or
fourth quarter property tax installment for tax year 2018 in calendar year
2017.”
New Jersey residents pay among the highest property taxes in the
nation.
Read the full article at - http://www.njbiz.com/article/20180406/NJBIZ01/180409875/murphy-recommends-changes-to-bill-allowing-prepaid-property-taxesFor your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us. We can help. Located in Fairfield, NJ, we are the title insurance agent that does it all for you.
For your next title order or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow AT vested.com
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