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property tax appeal, property taxes, Wisconsin property taxes, Milwaukee appeals lawyer, tax appeals processBy: Chris Strohbehn

Every year business owners go through the ritual of opening up their notices from their municipality or an assessor to see how much the municipality is charging for property taxes that year. Of course, that ritual often ends with a groan and perhaps a feeling that for whatever reason this is not right. What can you do to make it right?

Call Your Assessor

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Wisconsin tax assessment attorney, property taxes, tax deductions, tax reform, Wisconsin homeownersLast December, Congress passed the Tax Cuts and Jobs Act of 2017, which was the most significant change to federal tax law in the last 30 years. This law affected nearly everyone in the United States, and financial experts are still working to fully understand the ramifications of its changes. One area that has caused some confusion is the law’s provisions for the deduction of state and local property taxes from one’s federal tax liability.

Wisconsin Homeowners Cannot Prepay 2018 Property Taxes

Prior to the passage of the new tax bill, property owners could claim an unlimited amount of state and local income and property taxes as deductions from their taxable income. However, the new law will limit this deduction to $10,000, starting in 2018. Some people have sought to take advantage of this impending change by prepaying their property taxes for 2018, allowing them to deduct taxes in excess of $10,000 on their 2017 tax return.

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