New York State tax Worksheet Question? IT-229

Yes, you would enter any real property taxes paid for your residence by you or your spouse during 2023 to a county, city, town, village, or school district. 

 

Real property taxes paid means all real property taxes you (or your spouse, if they occupied the residence for at least six months) paid on the residence during the tax year, including:

• current, prior and prepaid real property taxes

 

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.

How much is the credit?

The amount of the credit is the product of the amount of real property tax which exceeds 6% of the taxpayer’s qualified gross income (QGI), and a specified rate based on the taxpayer’s QGI. To claim the credit, the computed amount must exceed $250. The maximum credit allowed is $350.

 

Note: If you itemize deductions on your New York State income tax return, you must reduce the amount you claim by the amount of this credit. For more information, see Form IT-196, New York Resident, Nonresident, and Part-Year Resident Itemized Deductions, and its instructions.

 

Additional information

Form IT-229, Real Property Tax Relief Credit, and its instructions