Minnesota seeks clarification on prepaid property taxes, Blue Earth County had over $2M worth in 2017

By |2018-03-28T16:41:32-05:00March 28th, 2018|

The States Department of Revenue commissioner is calling on the IRS to clarify if Minnesotan's who prepaid 2018 state and local property taxes in 2017 can deduct those payments on their federal income tax returns this year. Federal tax changes aim to limit the annual state and local tax deduction at 10-thousand dollars starting in 2018. Some residents paid their 2018 taxes late last year in hopes of deducting their 2018 payments on this year's return. Administrator Bob Meyer says Blue Earth County had over 2-million dollars worth of pre-payments for property taxes late last year. Blue Earth County Administrator, [...]