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Local News

Property tax prepayments accepted for more than 1,000 parcels

The Kendall County Treasurer's Office is located in Room 114 at the County Office Building, at 111 W. Fox St. in Yorkville.
The Kendall County Treasurer's Office is located in Room 114 at the County Office Building, at 111 W. Fox St. in Yorkville.

The Kendall County Treasurer’s Office took prepayment of more than $7 million in property taxes for more than 1,000 parcels before the end of the year, according to Treasurer Jill Ferko.

Ferko said Tuesday that the office collected payments for 1,051 parcels for a total tax amount of $7,804,841.94.

Ferko took criticism from some county taxpayers for initially not accepting prepayment of property taxes before the end of the calendar year.

However, Ferko announced on Dec. 22 that the office would take prepayments through the end of the business day on Dec. 29.

Property owners across the country crowded their local treasurers’ offices late last month to avoid a cap of $10,000 in state and local tax deductions, including property taxes, that will go into effect when people file their income tax returns in 2019.

However, the Internal Revenue Service issued a statement on Dec. 27 that suggested getting around the cap by prepaying taxes might not be possible.

“In general, whether a taxpayer is allowed a deduction for the prepayment of state or local real property taxes in 2017 depends on whether the taxpayer makes the payment in 2017 and the real property taxes are assessed prior to 2018,” the IRS statement said. “A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017. State or local law determines whether and when a property tax is assessed, which is generally when the taxpayer becomes liable for the property tax imposed.”

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