New York State passed a budget Saturday that creates a pair of loopholes designed to mitigate the effect the Trump administration’s tax overhaul will have on property taxes, though it’s uncertain if the moves will prove effective. One aspect of Gov. Andrew Cuomo’s plan allows taxpayers to convert local property taxes into charitable contributions, and then claim the “donations” as charitable write-offs on their federal taxes, the New York Times reported. Several states have considered […]
source https://therealdeal.com/2018/04/02/albanys-new-budget-creates-property-tax-loopholes-to-counteract-trumps-tax-reform/
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