I agree that NYC is less than cooperative in defining the treatment of the rebate but New York State is defining on their Homeowner Rebate. The link below is directly from the NYS Department of Taxation and Finance and if you scroll down there is a specific question answered about the Homeowner Rebate.
Without specific guidance that can be found on the NYC rebate, reasonableness and conservatism on the treatment of the rebate would suggest a reduction in NYC property taxes paid by the amount of the rebate.
I realize my next statement may be a bit cynical, but I have enclosed a link to the contact page for the NYC Department of Finance. Perhaps calling may get you directed to a Finance agent that can give you a definitive answer but I would not bet the house on it.
Homeowner Tax Rebate
NYC Department of Finance
@tjpeluso1
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