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Updated about 10 years ago,
Question on timing property tax payment
I put my first two rental properties into service this year. I quickly checked income vs expenses and see that I have taxable income after depreciation but prior to paying property tax. The property taxes on one property will take this taxable income to zero. My initial thought is to pay property taxes on one property by 12/31 then wait until after the 1st of the year to pay the other. The bills aren't due until 1/31. This seems simple, but is there some other reason I would want to pay both this year or defer both until 15?
I do plan on hiring an accountant to prepare my taxes, but that won't happen until after the first of the year and I'll need to make the call on paying taxes before then.