Here's How Princeton Residents Can Prepay Their Taxes

PRINCETON, NJ — Princeton 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, Princeton officials announced that residents would be able to prepay their 2018 first quarter taxes and sewer on the town’s website at princetonnj.gov. Anyone who wants to pay more than the first quarter must do so by mailing or bringing their payment to the municipal offices at 400 Witherspoon Street, Princeton, NJ 08540. Prepayments must be received in the office by 5 p.m. on Dec. 28, 2017. The municipal building will be closed on Dec. 29.

Residents are advised to consult with their tax professional if they are unclear if this will benefit them.

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