WOODSTOCK – McHenry County residents have until Dec. 29 to pay their property taxes before the end of the year to maximize their deduction, McHenry County Treasurer Glenda Miller said.
Although the treasurer has given property owners the option of paying their taxes early for years, Miller said there has been more interest in doing so after a proposed change in federal tax code that caps the deduction amount at $10,000.
The Republican tax plan could take effect as early as
Jan. 1 if the final bill passes and is signed into law.
“The first installment of 2017’s property tax bill is not due until next June, but prepaying now will allow people whose real estate taxes are greater than $10,000 to get the maximum deduction,” Miller said in a news release.
Homeowners even can pay two years’ worth of property taxes, Miller said.
To participate, residents must fill out an Advance Tax Agreement. The document is available at www.mchenrytreasurer.org, but residents also can grab one in person at Miller’s office, at the corner of Route 47 and Russel Court in Woodstock.
The form and accompanying payment much be submitted to Miller’s office no later than
Dec. 29. For information, call the office at 815-334-4260.