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March 20, 2020
Question

Hello. Does anyone know why real property tax credit is not showing on my 'CREDITS' summary?

  • March 20, 2020
  • 1 reply
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1 reply

RobertG
March 20, 2020

Are you talking about the Real Property Credit for New York State?

 

Here are the requirements.

 

Real Property Tax Credit IT 214

 

The Real property tax credit may be available to New York State Residents who have household gross income of $18,000 or less and pay either real property taxes or rent for their residences. If all members of your household are under age 65, the credit can be as much as $75. If at least one member of your household is age 65 or older, the credit can be as much as $375.

 

To qualify for this credit, you must meet ALL of the following conditions:

 

* Your household gross income is less that $18,000.

* You stayed at the same NY address of 6 months or more.

* You were a full-year NY resident.

* You cannot be claimed on another person’s tax return.

* Your residence was not completely exempt from real property taxes.

* The current mark values of your property such as homes, garages, and land was $85,000 or less.

 

You must also meet the conditions for either the Home owners or Renters listed below:

 

* Homeowners: you or your spouse paid real property taxes and any rent you received was for nonresidential use of your residence was 20% or less of the total rent you received.

* Renters: You or a member of your house paid rent for your residence and the average monthly rent you paid was $450 or less, not counting charges for heat, gas, electricity, furnishings, or board.

 

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