NYC Homeowners Set For Property Tax Rebate: Here's What To Know

NEW YORK CITY — Check your mailboxes, New York City homeowners.

Tax rebate checks worth hundreds of dollars are heading toward for more than 2.5 million eligible homeowners across the state, including 479,000 households in the Big Apple.

The checks for the 2022 Homeowner Tax Rebate Credit are part of a budget deal reached in April that directs $2.2 billion this year toward tax relief.

"This Budget provides much-needed tax relief for thousands of small businesses and millions of New Yorkers and reduces the tax burden for those who need it most," Gov. Kathy Hochul said in a statement.

The checks started going out in June, much earlier than originally planned.

That early timing, coupled with the checks' short message — "Gov. Hochul and the New York State Legislature are providing you this" — raised eyebrows among many officials and political watchers as it meant taxpayers would receive it before the June 28 primary, the Times Union first reported.

Hochul's Democratic primary rival Rep. Thomas Suozzi groused about the timing, the New York Post reported.

"She’s bribing the voters before the election … if it’s not illegal, it should be illegal,” he said, according to the Post.

Controversy and accusations of political chicanery aside, the rebate checks likely will be welcome for many New York City homeowners, even if the windfall is less than other parts of the state.

Most eligible taxpayers outside the city will receive an average benefit of roughly $790, while New York City homeowners are due for about $425.

So, who in New York City is eligible for the checks?

Broadly speaking, homeowners who make $250,000 or less and are eligible for the School Tax Relief — or STAR — program are eligible, state officials said.

They specifically must fit the following criteria, as outlined by the state's Department of Taxation and Finance:

• qualified for a 2022 STAR credit or exemption.
• had income that was less than or equal to $250,000 for the 2020 income tax year.
• a school tax liability for the 2022-2023 school year that is more than your 2022 STAR benefit.

The amount for New York City homeowners will vary based on their school district, income and whether they receive the Basic STAR or Enhanced STAR benefit, officials said.

Those who get the Enhanced STAR exemption or credit will receive a rebate of 110 percent of their Enhanced STAR exemption savings regardless of your income, according to the Department of Taxation and Finance.

Basic STAR exemption recipients will receive a credit that's a certain percentage, based on income, of the Basic STAR exemption savings, the department's site states.

And those taxpayers in either pool result who have a calculated credit of less than $100 are out of luck: state law prohibits rebate checks of such amounts to be cut.

The likely amounts for New York City homeowners are as follows, according to the Department of Taxation and Finance:

And New York City property taxpayers soon could receive another, separate rebate from the city.

A $101 billion budget deal between Mayor Eric Adams and City Council members includes $90 million for a property tax rebate for roughly 600,000 eligible city dwellers.

The amount likely will be $150 for property owners who earn less than $250,000, said Jacques Jiha, the budget director for the mayor's Office of Management and Budget.

Read more about the Homeowner Tax Rebate Credit here.