Mayor Adams signs legislation providing property tax rebate for New York homeowners

August 24, 2022

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Intro 600 will provide financial assistance to hundreds of thousands of eligible homeowners in five boroughs

NEW YORK – New York City Mayor Eric Adams today signed legislation to provide a one-time property tax rebate of up to $150 to hundreds of thousands of eligible New York homeowners. The bill was passed by the New York City Council earlier this month.

“I grew up on the edge of homelessness, so I know the worry and fear that too many low-to-middle income homeowners in all five boroughs have about whether they can keep their homes and pay their bills.” , said Mayor Adams. “We want to ease some of the burden New Yorkers are feeling, which is why we’re putting money back in their pockets with a property tax rebate of up to $150 for low- and middle-income homeowners. This is to provide direct relief to New York City homeowners who are struggling.

“The Adams administration understands the financial challenges many homeowners face and is deploying new and innovative approaches to meet their needs,” said First Deputy Mayor Lorraine Grillo. “Through this refund, eligible homeowners will receive assistance they can use to pay their mortgage, pay their utility bills or plan for their future.”

“Through this legislation, eligible homeowners can receive a check for up to $150,” said New York City Department of Finance (DOF) Commissioner Preston Niblack. “We encourage any owners who believe they are entitled to this refund to check their eligibility status.”

Introduction 600 – co-sponsored by New York City Council Speaker Adrienne Adams, New York City Council Member and Finance Committee Chairman Justin Brannan, and New York City Council member Kalman Yeger, and longtime champion of the leader New York City Council Minority Joe Borelli – will implement a state authorizing law, allowing the city to provide a property tax refund for eligible properties on fiscal year 2022 property taxes. The refund would be the lesser of $150 or the amount of property tax for the property’s fiscal year 2022.

To be eligible for the rebate, the property must be a single-family, two-family or three-family residence or a dwelling in a cooperative or condominium; and the property must be the owner’s primary residence. Additionally, the annual income of all owners of the property must have been less than or equal to $250,000 for the 2020 tax year.

“I was proud to sponsor and lead the charge on New York City’s first property tax refund in 15 years,” said New York City Council Member Justin Brannan, Chairman of the Finance Committee. “Today, we are putting money directly into the hands of working class and middle class families. There is still a lot of work to do on property tax reform and we need our partners in Albany to get serious. To all co-owners, co-ops and landlords: consider this a good faith refund from the city while you wait. »

“From the start, Mayor Adams promised to focus on fiscal responsibility,” said Kalman Yeger, member of the New York City Council. “Providing tax relief to New York City homeowners is fair, necessary and fiscally responsible. I am grateful for the mayor’s strong support for this legislation, which will benefit hundreds of thousands of working families in New York City. In the midst of an inflation and economic crisis affecting every corner of our city, any relief we can provide to taxpayers is needed. I’m honored to be part of delivering this small measure of relief to New York City taxpayers, and hope it serves as a reminder that taxpayers’ money belongs to taxpayers, not taxpayers.

“High property tax costs and our unfair property tax system have plagued New Yorkers for far too long, and I am pleased that through the collaboration, leadership and advocacy of the New York City Council, President Adams and Mayor Adams, we have been able to provide much needed relief to homeowners who need it most,” said Kamillah Hanks, member of the New York City Council.

“We couldn’t wait for Albany to do its job to fix our unfair property tax system, so we did our own and provided property tax relief now,” said New York City Council Minority Leader Joseph Borelli. “I was delighted to lead a bipartisan effort during budget negotiations, with Councilor Brannan and Speaker Adams, to ensure homeowners would receive a property tax refund this year.”

Checks will be issued by the DOF to eligible owners. Tax year 2023 recipients of a School Tax Relief (STAR) waiver or credit for whom the DOF can verify eligibility will automatically receive checks, which will be mailed at the end of the tax month. ‘august.

The DOF will notify – by letter – STAR recipients for whom the DOF has incomplete income information. These owners will have to certify their eligibility to receive a check. An application process is being created for other owners who do not benefit from the STAR exemption, but who may be eligible for reimbursement. Additional information or request will be due in November and checks will be mailed to owners the DOF deems eligible in the fall.


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