Correction to Property-Tax Prepay Article on Dec. 26

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Congress's Joint Committee on Taxation estimates the real-estate-tax deduction cost the federal government $33 billion in 2017. "Homeowners Rush to Prepay 2018 Property-Tax Bills," published on Dec. 26, 2017, at 7:53 p.m. ET, incorrectly said 2016 in the 13th paragraph. Also, for taxpayers who deducted their real-estate taxes in 2015, the deductions reduced adjusted gross income by about $5,000. The article incorrectly said the average tax bill was reduced by roughly $5,000 in the 10th paragraph. (Jan. 2, 2018)

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(END) Dow Jones Newswires

January 02, 2018 13:08 ET (18:08 GMT)