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Can I add a wrinkle into this discussion? In all the discussions about the new SALT limitations to $10k, everyone keeps talking about the property taxes, but what I've not seem much discussion on, if I'm reading it correctly, is that I believe the limitation applies to all state and local taxes doesn't it? So it would apply to your state income taxes, and your deduction on your federal return for the state income taxes paid. For higher income taxpayers, that could be much more than the $10k limit, making the discussion of your property taxes meaningless. Am I reading that correctly?

Yes, SALT does include all state and local taxes. For those who pay more than $10k in state income taxes, the timing for paying property taxes would be meaningless, since the income tax is already over the SALT limits. As already mentioned, the SALT limits also make it likely that the timing of property tax payments for MFJ taxpayers would also be meaningless.

That said, timing property tax payments may still be a useful strategy for some, especially single/HOH taxpayers in states like Texas, which has relatively high property taxes and no income tax.

AJ
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