Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”
Historically, the week between Christmas and New Years is the slowest of the year for real estate activity, and this week lived down to the expectation. Only 12 new listings hit the market, and buyers ratified only 16 contracts this week. For this posting, there are only a few new listings still active for your review.
A number of Arlingtonians have lined up at the county’s Treasurer’s office to prepay their 2018 property taxes so they can deduct them in their 2017 tax return before the new tax law goes into effect. But most likely they won’t get the deduction, and all they are accomplishing is providing the county with an interest free loan. That’s because the IRS this week issued an opinion that a deduction can only be taken if the municipality issues their 2018 assessments in 2017. Arlington won’t issue its property assessments until next month.
“A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017,” the IRS said in its advisory on Wednesday.
The new tax bill caps the amount that tax filers can deduct in state and local income, sales and property taxes at $10,000, beginning next year.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.