Experts did not expect New York to start sending out money until Autumn. But some homeowning residents began receiving their property tax rebates in June. (source)
About three million homeowners will receive a total of over 2.2 billion dollars. This move is part of the state's bid to give locals financial support. It has been hard for some due to inflation and the economic shocks of the pandemic. (source)
Like most of these state-provided one-time payments, it is for taxpayers. Thus, qualifying recipients will get their rebates without taking any action. The state has their information and will access eligibility and send the money. (source) Other places with a similar automatic cash sending process; are:
- Stimulus Bill Gives New Jersey Renters and Homeowners One-Time Payments
- Indiana Residents To Receive State Checks
- New Mexico Residents To Get Hundreds In Tax Rebate
- Hawaii State Stimulus Check For 2022
Here are other details of the New York homeowner property tax rebate.
The New York property tax rebates are up to $1,050. Most households in New York City get an average of $425. But outside of this city, the average amount is about $970 for around two million property owners. There is no calculator for this rebate. The amount gets sent based on the state's financial assessment of the homeowner. (source)
The residents earning below $75,000 can expect an average of $1,050. The reasons? These residents get considered low-income homeowners. What are the three eligibility rules? The person should have qualified for a 2022 School Tax Relief (STAR) program. They had income less than or equal to 250,000 dollars for the 2020 tax year. They also have a school tax liability for the 2022-2023 school year that is more than the 2022 STAR benefit. (source)
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*Disclaimer: This article is for informational purposes only. This article got written using accredited media reports.*