Here's How Moorestown Residents Can Prepay Their Taxes

MOORESTOWN, NJ — Moorestown residents have the chance to pay their 2018 property taxes early.

As a result of the tax bill signed into law last week that changes the tax code, the deduction for state and local taxes -- including property taxes -- is now limited to $10,000. As a result, many people are seeking to prepay their 2018 property taxes to maximize their state and local tax deduction for 2017.

On Wednesday, Gov. Chris Christie signed an executive order directing the Division of Local Government to notify municipalities to accept payments for 2018 property taxes in calendar year 2017, and require them to credit those payments if the payments are postmarked on or before Dec. 31, 2017.

Before Wednesday's announcement, Moorestown announced that it is accepting pre-payment for 2018 taxes. They must be received by Dec. 29, 2017, to count as a tax payment in 2017. Residents are advised to consult with their tax professional if they are unclear if this will benefit them.

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