Property tax relief credit
Preparing your income tax return?
The property tax relief credit has expired. However, if you were eligible for the credit in 2017, 2018, or 2019, but believe you did not receive it:
The property tax relief credit directly reduced your property tax burden if you are a qualifying homeowner. The amount of the credit is a percentage of your STAR savings.
To be eligible in a prior year, you must have:
- lived in a school district that is complying with the New York State property tax cap,
- been eligible for either the Basic or Enhanced STAR exemption or credit,
- had an income of $275,000 or less, and
- paid school property taxes for the applicable year.
Definition of income for property tax relief
For the property tax relief credit, income is defined as federal adjusted gross income (FAGI) from two years prior, modified so that:
- the net amount of loss reported on Federal Schedule C, D, E or F doesn’t exceed $3,000;
- the net amount of any other separate category of loss doesn’t exceed $3,000; and
- the aggregate amount of all losses doesn’t exceed $15,000.
For example, for the 2019 property tax relief credit, income eligibility is based on the 2017 tax year.
New York City residents
New York City is not subject to the tax cap and therefore, city residents aren’t eligible for this credit. If you are a New York City homeowner or renter, you may, however, be eligible for the New York City enhanced real property tax credit.