Do you qualify for the New York City Enhanced Real Property Tax Credit if you rent?

[bmgeoghegan]

Do you qualify for the New York City Enhanced Real Property Tax Credit if you rent?

[alehrer7]

How do I know if my residence was not completely exempted from real property taxes?

[maglib]

The credit  is only if your property taxes paid had to exceed 4-6% of total NYS household income which adds back pensions and social security income  Or a renter it would have to exceed rent plus certain utilities by 15.75%.   if NYS household income is under 100k 4%,  from 100-150k household income it would have to exceed 5%, for $150-200k it would have to exceed 6% of household income.    See the link I provided to the form below.  Or if you paid already for the TT program you should be able to look at the NYC-208 form.  https://www.tax.ny.gov/pdf/current_forms/it/nyc208_fill_in.pdf 

[igan-figueroa]

it still said that i don't qualify for the credit and i meet all the conditions to be credited!
paid rent $1250 all year of 2016, made $47k income and have a child I'm claiming!

[m-koszu]

same here... i dont get this

[kelly-weise8]

I think there is something wrong with the system because I do qualify for this credit based on the guidelines mentioned above.

[chazel42]

same issue -- all requirements met and I don't qualify

[null206]

TT is saying I do not qualify as well even though all below is confirmed by me. Any help would be greatly appreciated! 🙂

My household gross income was less than $200,000 - CONFIRMED
I occupied the same New York City residence for six months or more - CONFIRMED
I was a New York City resident for all of 2018 - CONFIRMED
I can not be claimed as a dependent on another taxpayer’s federal income tax return - CONFIRMED
My residence was not completely exempted from real property taxes - CONFIRMED
I paid rent for my residence - CONFIRMED

[ericktgregory]

I am having the same issue.  I meet all of the requirements but same message once done filling everything out that I do not qualify.  It be be helpful to know why not.  

[null206]

i just found out it is a strange formula that i do not quite understand how the powers that be came up with it, but i DO NOT qualify. oh well.

to figure it out, all you need to do is drop your info into a NYC-208 worksheet and it will let you know if you qualify. here it is:

<a rel="nofollow" target="_blank" href="https://www.tax.ny.gov/pdf/current_forms/it/nyc208_fill_in_2d.PDF">https://www.tax.ny.gov/pdf/curren...>

If line 24 is equal to or more than line 23, stop; you do not qualify for this credit. < THIS IS WHAT WAS TRUE FOR MY AMOUNTS SO I HAVE GIVEN IN.

[ericktgregory]

THANKS!  I didn't qualify either but at least now I know how/why.  

[bsumarnkant]

I'm not a tax expert, but based on my calculations, if your income is under $100K, you qualify for a credit if you pay more than 25.40% of your income in rent; if your income is over $100K and under $150K, you qualify for a credit if you pay more than 31.75% of your income in rent; if your income is over $150K and under $200K, you qualify for a credit if you pay more than 38.10% of your income in rent. So if you pay a considerable amount of rent as a percentage of your income based on the thresholds that I've calculated, then check closely to see whether or not you're receiving this credit.

[janet389]

thank you! they really should post the percentages