Emergency Executive Order to Allow Pre-Pay Taxes StatewidePosted: Updated:
Governor Andrew Cuomo issued an emergency Executive Order on Friday with aims to protect property owners in New York from the impacts of the new tax bill.
"New York has made unprecedented progress reducing the burden of taxes on our middle-class families, and we will not allow this attack to roll back all that we have achieved," said Cuomo.
The order authorizes local governments to immediately issue tax warrants for the collection of 2018 property tax payments and allows property owners to pay at least a portion of their bill before the end of the year under the current tax construct. On Friday, Broome Executive Jason Garnar announced that the county property owners will be allowed pre-pay their 2018 taxes.
The federal tax plan caps the deductible of state and local taxes (SALT) at $10,000. The Executive Order will allow property owners to deduct either part or the full amount of their payment from their federal taxes before the new bill goes into effect.