Prepaying property taxes

Homeowners in the tristate are lining up to prepay 2018 property taxes before the new federal tax law takes effect. Starting January 1, the IRS will cap state and local property tax deductions at $10,000. Homeowners in New York, New Jersey, Connecticut, Illinois, and California could be hit especially hard. The governors of New York and New Jersey responded by signing executive orders to clear the way for prepayments.