Krista McNallyDec 14, 2017, 8:16 pm

What will the new GOP tax bill mean for Long Islanders?

FiOS1 speaks with experts about strategies you can take now which may save you some money


HEMPSTEAD — Hempstead Town Receiver of Taxes says that many residents are confused about what the new GOP tax plan means for them.

"We have been inundated with a lot of inquiries because of the changes happening in Washington with the federal tax law," Clavin said.

Clavin's suggestion to residents is to pay the first half of 2018 school taxes before the end of 2017.

"When it comes to school taxes, which are 75% of the property taxes you pay in Nassau County, your second half school tax bill is not due until April 1st. Residents can come in and pay before the end of the year," Clavin said.

For those who have mortgages and the bank covers the tax payments, they can also go their tax office and pay before the end of the year.

Under current tax law, you can deduct state and local taxes, but the final GOP bill proposes capping the deduction at $10,000 for either property or state and local income.

The bill is expected to be passed before Christmas.

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