Most of you homeowners and investors probably paid a property tax installment in December. Now, if you think next year’s income might drop due to higher vacancy rates or cutbacks from jobs, it might be smart to make that second payment now if you itemize deductions on your taxes.

Why do this? So you can deduct it against this year’s income. If your job goes away next year that bill will be harder to pay and, on top of that, the deduction will be worth less.

It might even make sense to borrow a little to pay early.  But run the numbers for your situation to be sure.