Red Bank Joins Marlboro In Offering Prepayment Of 2018 Taxes

RED BANK, NJ - One day after Marlboro Township announced it would allow its residents to prepay two quarters of their tax liability, the borough has announced its own plan to help property owners who would be limited in their ability to use typical deductions.

Mayor Pasquale Menna said the borough tax collector will accept pre-collection of 2018 real estate tax payments by residents who may be adversely affected by the federal government’s drastic tax code changes that were pushed through by the House and the Senate earlier this week.

Real estate taxes paid to municipalities currently are entirely deductible but starting next year, taxpayers may only be able to deduct up to a total of $10,000 in all taxes, real estate and state income tax combined to other taxing authorities.

Menna strongly advises residents immediately consult with their accountant or financial advisor to protect their interests.

The Red Bank Finance Office will be accepting prepayments of 2108 real estate taxes in person through 5 p.m. Dec. 28. Borough offices will be closed Dec. 29; however 2018 taxes also may be prepaid on line via the borough’s website through Dec. 31.

Prepayment of 2018 taxes now available in Red Bank. Photograph by Luca Bruno/Associated Press.