New York homeowners are receiving property tax rebates as a form of stimulus to help citizens with rising costs due to inflation.
The 2.5 million eligible homeowners are receiving $2.2 billion as part of a tax rebate program announced by Gov. Kathy Hochul in April.Hochul touted the programs in a statement.
"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," Hochul said. "In a post COVID-19 era, New Yorkers will recover from the pandemic and lead the nation in an economic resurgence, and I applaud the legislative leaders for their collaboration to help ensure this historic budget leaves no one behind.
Those eligible for the tax rebate must have qualified for 2022 STAR credits or exemptions, made no more than $250,000 in 2020, and have school tax liabilities for the upcoming school year that are more than the STAR benefit for this year. STAR is the state's School Tax Relief program, which provides certain homeowners with credits for school taxes.The estimated amount of the rebate and eligibility can be checked on the state's website.
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