SIOUX FALLS, S.D. (KELO.com) -- Local Tax Expert Tim Ness says Sioux Falls taxpayers who choose to, should be able to pre-pay 2018 property tax to avoid limits in the new tax reform law.
The latest IRS ruling seems to fit the Mount Rushmore State..
"Our property taxes are assessed in 2017 and payable in 2018, so the folks here in South Dakota, and in Sioux Falls, should be able to pre-pay those taxes and safely deduct those."
There has been a flood of taxpayers nationwide trying to pre-pay property tax to avoid the lower deductible amount that kicks in for the 2018 tax year. Ness says about 25 percent of South Dakotans itemize deductions so potentially could take advantage of pre-payment.
"I think we will be seeing an increased number of folks who decide to pre-pay..." says Ness.
Overall, Ness like the new tax reform law because it means lower personal rates and better terms for Agriculture and other businesses in South Dakota.
