MASON CITY, Iowa- Many people all over the nation are rushing to pay their property taxes earlier including in Cerro Gordo County.
According to the County Treasurer’s Office, they have seen more than a million dollars in revenue this year than last year. They say the reason for that is because of the new federal tax plan that was recently passed. The plan only allows for $10,000 in deductions and those who pay it before the first can still right off the taxes under the current tax plan.
“We’re probably at $1.5 million today,” says Pat Wright, the Cerro Gordo County Treasurer. “Typically it is a slower time of the year. We always have those people you come in to pay their taxes early, but this year is definitely a big rush.”
Wright says folks have a couple of days left to get their property taxes paid if they wish to deduct the property taxes under the old plan. Wright says her office doesn’t give advice to whether people should or should not pay their property taxes early she says people should ask their financial adviser for recommendations.