New York City ($400) Rebate
If you received a rebate check in 2006, have not moved, and have paid your property taxes incurred before July 1, 2007 in full, you will receive a rebate check in October.
Eligibility for the 2007 Rebate
Owners of Class 1 properties (one-, two-, and three-family houses) and Class 2 condominiums and cooperative apartments that are certified as the owners’ primary residence are eligible for the 2007 rebate if they are current on payment of any property taxes incurred before July 1, 2007. For homeowners who own only one property and live in it, this is your primary residence. For homeowners who own more than one property, your primary residence is the one that you live in for the majority of the year, where you are registered to vote, and, generally, is the address listed on your driver’s license.
To certify that a house, condominium, or cooperative is your primary residence, you must have one of the New York State property tax exemptions that require primary residence for eligibility. These are STAR (Basic or Enhanced), the Senior Citizen Homeowners’ Exemption (SCHE), the Disabled Homeowners’ Exemption (DHE), or the current Veterans’ Exemption. To qualify for Enhanced STAR you must own a property that you use as your primary residence and be 65 or older. The total annual income of all the owners property must be $70,650 or less. The deadline for receiving these exemptions for the tax year that began July 1, 2007 was March 15, 2007, but you may apply for these exemptions at any time if you don’t already have them. Check the statement of account we mailed to you recently, or click Property Information to see if you have one of these exemptions.
The deadline is still March 15, but property owners who do not currently have an exemption and use their home as their primary residence should apply by September 1, 2007 in order to receive the rebate. If you apply after March 15th, your tax reduction will not start until July 1, 2008.
The following property owners will not be eligible for the 2007 rebate:
- Owners of cooperative apartments in Mitchell-Lama, Limited Dividend Redevelopment Company, or Housing Development Finance Company (HDFC) developments;
- Owners who do not use their properties as their primary residences; and
- Owners who owe back tax incurred before July 1, 2007.
If I received the rebate in 2006, do I have to take any action to qualify in 2007?
If you moved, and have not yet applied for STAR (or another eligible exemption) to prove primary residence for your new home, you must do so. If you have not moved, you will automatically receive the 2007 rebate if you do not owe taxes from before July 1, 2007.
Property Information
After entering your borough, block and lot number click onto Statement of Account.
I used to have the STAR exemption, but I no longer see it on the quarterly Statement of Account. Why?
If you purchased a house, condo, or co-op that had the STAR exemption you may have “inherited” the property tax exemptions the previous owners applied for. As the new owner, you must apply for your own exemptions.
Does everyone receive $400?
Most homeowners receive $400 for the rebate. Only homeowners who pay less than $400 in property taxes receive less than the full $400, and they receive a rebate equal to the amount of their tax liability. This occurs in a small number of cases, due to exemptions and abatements.
Will I have to pay tax on the rebate?
The IRS issued a memorandum that explains the tax consequences of the rebate. Finance advises that any taxpayer seeking guidance on the income tax consequences of the property tax rebate should consult with a licensed tax professional.
