The New York Real Property Tax Credit is available to qualifying New York residents with lower incomes who pay either property taxes, rent, or both for their primary residence.
For tax year 2026:
- If everyone in the household is under age 65, the credit can be worth up to $75.
- If you, your spouse, or a dependent is age 65 or older, the credit can be worth up to $375.
- Because the credit is refundable, you may receive a refund even if you owe little or no New York tax.
Do I Qualify for the Credit?
You must meet all of the following requirements for tax year 2026.
General Requirements
- Your federal adjusted gross income (FAGI) was $18,000 or less.
- You occupied the same New York residence for at least six months.
- You were a New York State resident for the entire year.
- You could not be claimed as a dependent on another taxpayer's federal return.
- Your residence was not completely exempt from real property taxes.
- The current market value of all real property you owned was $85,000 or less.
Homeowners
You must also meet both of the following conditions:
- You or your spouse paid real property taxes on the residence.
- Any rent received from nonresidential use of the property was 20% or less of the total rent received.
Renters
You must also meet both of the following conditions:
- You or your spouse paid rent for the residence.
- Your average monthly rent was $450 or less, excluding charges for heat, gas, electricity, furnishings, or board.
Quick Reference Guide
| Requirement | Must Meet |
|---|---|
| Federal adjusted gross income | $18,000 or less |
| New York residency | Full-year resident |
| Same residence | 6 months or more |
| Property value | $85,000 or less |
| Dependents | Cannot be claimed by another taxpayer |
| Age 65+ in household | Credit up to $375 |
| All household members under 65 | Credit up to $75 |
| Renters | Average rent $450/month or less |
| Homeowners | Must have paid property taxes |
How Do I Claim the Credit?
To claim the credit as part of your New York income tax return:
Path:
State Section → Edit NY Resident Return → Credits → Real Property Tax Credit (IT-214)
Complete Form IT-214, Claim for Real Property Tax Credit for Homeowners and Renters, and submit it with your New York return.
What Information Will I Need?
Homeowners
You may need:
- Property tax bills
- Records showing property tax payments made during the year
- Information about any STAR credit received
- Property ownership information
- Current market value of the property
Renters
You may need:
- Total rent paid during the year
- Monthly rent amount
- Records showing the portion of rent attributable to utilities, furnishings, or board
- Rental agreements or landlord records
Keep all supporting documentation with your tax records.
What Counts as a Residence?
A residence generally includes:
- A house
- Apartment
- Condominium
- Cooperative apartment
- Rental unit
- Mobile home used as a residence
Only the residence and up to one acre of surrounding land may be included when calculating the credit.
If your property includes more than one acre, only the portion attributable to the residence and one acre of surrounding land may be used.
Mobile Homes
- If you rent your lot and do not pay property taxes, follow the renter rules.
- If you pay property taxes on the property, follow the homeowner rules.
How Is Rent Treated?
For renters, New York generally treats 25% of adjusted rent paid as real property taxes for purposes of calculating the credit.
Adjusted rent means rent paid after excluding charges for:
- Heat
- Gas
- Electricity
- Furnishings
- Board
What If I'm Not Required to File a New York Return?
You may still claim the credit.
If you qualify but are not required to file a New York income tax return:
- Complete Form IT-214.
- File the form by itself.
- Mail it to:
NYS Tax Processing
PO Box 15192
Albany, NY 12212-5192
For tax year 2026, standalone Form IT-214 claims must generally be filed after January 1, 2027, and no later than April 15, 2030.
Can More Than One Person in a Household Claim the Credit?
Generally:
- Each qualifying taxpayer must file a separate Form IT-214.
- Married taxpayers filing jointly must file one joint Form IT-214.
- Only one credit may be claimed per qualifying taxpayer.
If more than one individual in a household may qualify, special allocation rules may apply.
How Does the Credit Affect My Return?
The Real Property Tax Credit may:
- Reduce your New York tax liability
- Increase your refund
- Generate a refund even when no tax is owed
Because the credit is refundable, many eligible taxpayers receive the benefit even if they have little or no New York income tax liability.
Important Information
- You must meet all eligibility requirements to claim the credit.
- Federal adjusted gross income must be $18,000 or less.
- The residence must have been occupied for at least six months.
- Full-year New York residency is required.
- Property value cannot exceed $85,000.
- Renters must have average monthly rent of $450 or less.
- Homeowners must reduce property taxes paid by any STAR credit received.
- You cannot claim the credit if the residence is completely exempt from property taxes.
- Generally, a claim cannot be filed for a taxpayer who died before filing the return or Form IT-214.
Additional Information
Before claiming the Real Property Tax Credit, gather your property tax records or rental information and review each qualification requirement carefully. Although the maximum credit amount is relatively modest, it can provide valuable tax relief for qualifying low-income New York residents, especially households that include someone age 65 or older.