- Millions of Americans will be able to get a direct payment of $1,050.
- It is a tax refund credit for homeowners.
- Only residents of one US state are eligible for the payment.
Millions of Americans will be able to get a direct payment of $1,050. Homeowners in New York are in luck and they will receive tax rebates that no one else will receive.
But what is this new payment about and why are only some people eligible? The New York State government is sending a one-time Homeowners Tax Rebate Credit (HTRC) to eligible residents worth up to $1,050.
What is the difference between HTRC and STAR?
This new payment in New York is in addition to what New Yorkers can receive through the School Tax Relief (STAR) program. State lawmakers want the stimulus to help residents recover from the pandemic and inflation.
The HTRC is a one-year program to provide property tax relief in 2022 and, according to The Sun, this is a one-time payment while the STAR program is an ongoing initiative that provides qualified homeowners with school tax breaks.
Who qualifies for the rebate?
The average benefit for New York City residents will be $425 and will be around $970 for non-New York City homeowners. For their part, low-income households earning less than $75,000 will get an average benefit of $1,050 statewide.
According to the state, most checks in New York for the homeowners tax rebate credit are expected to be mailed this month for those who have filed tax returns for 2022. Filed Under: check in New York.
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