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When asking about real property tax relief credit, it ask about rent received being less then 20%. i did not receive any rental income. how do i answer the question?

i lived in my Star exempted home for the whole 2023 yr and i paid property taxes on my property.
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1 Reply
KrisD15
Expert Alumni

When asking about real property tax relief credit, it ask about rent received being less then 20%. i did not receive any rental income. how do i answer the question?

Answer "Yes", since you received NO RENTAL INCOME and that would be LESS THAN 20%. 

It is one of the requirements of the credit. 

 

According to the State of New York:

"You are entitled to this refundable credit if you meet all of the following requirements for the tax year:

  • you are subject to tax under Tax Law Article 22,
  • you were a New York State resident for all of the tax year,
  • your qualified gross income is $250,000 or less,
  • you owned and primarily resided for six months or more of the tax year in real property that received the STAR exemption or that qualified you for the STAR credit,
  • any rent you received from nonresidential use of your residence was 20% or less of the rental income, and
  • you are the one that paid real property taxes on the property fully or partially."
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