The NY Real Property Tax Credit is available to NY state residents with gross income of $18,000 or less and pay property tax, rent or both for their home.
How much is the credit?
The credit can be up to $75. However, if at least one member of your household is age 65 or older, the credit can be as much as $375.
To qualify for the real property tax credit, you must meet all of these conditions for tax year 2021:
- Your household gross income was $18,000 or less.
- You occupied the same New York residence for six months or more.
- You were a New York State resident for all of 2022.
- You could not be claimed as a dependent on another taxpayer’s federal income tax return.
- Your residence was not completely exempted from real property taxes.
- The current market value of all real property you owned, such as houses, garages, and land, was $85,000 or less.
- Additionally, you must meet all the conditions listed under either Homeowners or Renters below:
-You or your spouse paid real property taxes.
-Any rent you received for nonresidential use of your residence was 20% or less of the total rent you received.
- You or a member of your household paid rent for your residence.
- The average monthly rent you and other members of your household paid was $450 or less, not counting charges for heat, gas, electricity, furnishings, or board.
Where to claim in the program?
- State Section
- NY Resident return
- Real Property Tax Credit (IT-214)
What if I am not required to file a NY return?
If you don’t have to file a New York return, but you qualify for this credit, complete and file Form IT-214 to claim a refund of the credit. See the instructions for mailing address and dates.