I will. If I can. My wrinkle is that I escrow my taxes. I'm waiting on my lender (Chase) to call me back. My hunch is that it's either not permissable or too much of a logistical nightmare.

I'm in NY so it would be a huge benefit.

There is another thread on this somewhere here, but I just read an article from today saying it is up to the states. I think yours is allowing it, and guessing all the blue states getting screwed by this are also allowing it. I paid all mine, worst case is you just got them out of the way.

They are not allowing any prepayments of state taxes though, so if you have a big expensive house, better get what you can while you can..

How old is the loan? They allegedly will let you do it from year two onwards (that's what the guy there told me when I started due diligence on a mortgage).

I’m in mass and my wife did it yesterday. She called the bank (taxes paid through escrow) and called town hall. She was able to do it online and said it was easy.

I also escrow. My lender says if I'm allowed to prepay it with no escrow cancellation penalty. Once all the paperwork gets sorted out, the bank will likely owe me some $$$ from prior escrows. I'm taking the money out of savings to hopefully it can work. Again, if it doesn't, taxes will be out of the way for the year.

https://www.msn.com/...amp;ocid=mailsignout

Here is an article in the NY times that spells it out pretty well..

You're correct, news this morning suggests that the IRS has indicated that 2018 taxes must be assessed and paid in 2017 to be eligible for deduction on 2017 taxes. That is, a prepayment based upon an estimated assessment will not be deductible.

The problem is few municipalities are either legally or logistically able to adjust millage rates and assess 2018 taxes this early. Unless you know your local government is able to assess properties by the end of the week, there's no guarantee that prepayment will result in a deductible tax in 2018.

The word on the street is that if you have an escrow and prepay and do nothing else the future payment will just be rebated.

 

In my case, no. I am subject the AMT for the 2017 tax year and I won't obtain a tax benefit by prepaying taxes.

Thanks to you and all others who responded. Looks like I'm good to go.
BUT, it appears my town's webiste is being overloaded. May have to go in person.

The amount of my taxes for the first half of 2018 are listed online, but the bills won't be mailed until January. I don't know if that counts as being "assessed" or not. The website is showing as "amount due", so I'm going to go with that means it's assessed. I sent in my payment yesterday, as someone else said worst case I just paid it early.

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I miss YaHey

Same, people may also want to be careful they don't actually trip AMT via prepaying. That could be counterproductive.

We don’t escrow and had our winter 2018 property assessment already, due in late Jan or early Feb. I think we received that in November and paid it almost immediately. Summer property taxes won’t be assessed until June, so we couldn’t prepay those, but they’re only 10-15% of our total property taxes anyway so it wouldn’t have been a big savings. I’m still unsure why they split it into summer and winter bills with it being around 85-90% in winter and the remainder due in summer, with two separate bills being sent.