If You're Still Waiting…New York Stimulus Checks Are Still Being Sent

If you're a homeowner, parent or worker in New York, a "stimulus check" may arrive in your mailbox soon.

Statue of Liberty figurine with money falling down on it
(Image credit: Getty Images)

This year, the State of New York is sending "stimulus check" payments to eligible homeowners, families that claimed the state's child tax credit, and workers who claimed the state's earned income credit. Millions of New Yorkers have already received one or more of these payments, but more checks are on the way. If you qualify, these advance tax credit and tax rebate payments can be worth hundreds – or even thousands – of dollars.

However, the exact amount you get (if anything) can be quite different from what your neighbor, friend, or family member receives. That's because there are a lot of individual-based factors that go into calculating each payment, such as your income, where you live, or how many children you have. The eligibility requirements also vary from one payment program to another.

And if you live in New York City, you may have received an additional property tax rebate payment on top of what you may get from the state. That's an extra $150 for eligible Big Apple residents.

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Check out the details below for the various 2022 stimulus check programs in New York. Other states are sending stimulus checks, too. So, if you're not a New Yorker, you still could receive some extra cash in the mail soon.

[For more information about New York taxes, see the New York State Tax Guide.]

New York Child and Earned Income Tax Payments

If you claimed the state's child tax credit or earned income tax credit on your 2021 New York income tax return, you may get all or a portion of the credit amount back in the form of an additional tax credit payment. New York started sending payments on October 12, but more are arriving in residents' hands every day and most payments are expected to be issued by October 31. If you claimed both credits on your 2021 return, you'll only get one check in the mail – not two separate checks – for the combined amount you're entitled to receive.

There are some strings attached, though. First, you'll only receive a payment if the applicable credit was for at least $100. The state won't send payments for less than that amount. If you claimed both the child credit and the earned income credit on your 2021 return, but only one was for at least $100, you won't receive an additional payment for the credit that was under $100.

Second, you generally must have filed your 2021 New York tax return by April 18, 2022. If a filing extension was granted by the state, then your return must have been filed by October 17, 2022.

The amount of the additional "stimulus check" payment depends on the 2021 state tax credit(s) you claimed and, in the case of the child credit, your income. According to the state, the average combined payment (i.e., for both the child credit and earned income credit) will be around $270.

For New Yorkers who claimed the state's earned income credit, the additional payments being sent now will be for 25% of the credit claimed on your 2021 New York tax return. So, for example, if you claimed a $300 state earned income credit on your 2021 New York return, you'll get a $75 payment ($300 x 0.25 = $75). You can find the credit on Line 65 of your New York return, or on Line 66 if you claimed the credit as a noncustodial parent.

For the state child tax credit, the additional payment amount will range from 25% to 100% of the credit claimed on your 2021 return. The state child credit is reported on Line 63 of your New York return. If your "recomputed federal adjusted gross income" (Line 19a of your New York return) is less than $10,000, then your payment will be equal to 100% of the state tax credit. If that income amount is between $10,000 and $24,999, then your payment will be 75% of the credit. For an income of $25,000 to $49,999, you'll get back 50% of the credit. And, finally, if your computed federal AGI is $50,000 or more, then expect a payment that's 25% of your 2021 New York child tax credit.

New York State's Homeowner Tax Rebate Credits

If you own a home in the Empire State, you may qualify for an advance payment of the state's Homeowner Tax Rebate Credit for the 2022 tax year. New York started sending the advance credit checks in June, but not everyone has received their money yet. If you're still waiting, the state says eligible residents should receive their payment before their local school tax bills are due. But note that the state won't send payments for less than $100.

To get a payment, you must qualify for a 2022 School Tax Relief (STAR) credit or exemption and have a school tax liability that's more than your 2022 STAR benefit. Your 2020 income also can't exceed $250,000.

How much will you get? It depends on your income, where you live, and whether you receive Enhanced STAR or Basic STAR benefits. Generally, though, your payment will be between 18% and 163% of your STAR benefit. The state has an online tool (opens in new tab) that will help you estimate the amount of your payment, the average payment for people living outside of New York City is expected to be about $970 and around $425 for New York City residents.

New York City Property Tax Rebates

Finally, homeowners in New York City may get an additional $150 back this year on their property tax bill. To qualify, your New York City property can be a multi-family residence (up to three families), a condominium, or a unit in a cooperative – but it must be your primary residence. In addition, the 2020 combined federal adjusted income for all owners can't be more than $250,000. Most who qualify for the STAR exemption or credit will automatically qualify. If you aren't receiving STAR benefits but think you qualify for a rebate, you can submit an online application (opens in new tab) to receive a payment.

Rebate checks were mailed in August. However, if you're behind on previous property tax payments, your rebate check will be applied towards the property taxes you owe. For that reason, your check could be less than $150 or wiped out altogether, which may explain why you didn't receive a check in the mail. Otherwise, if you haven't received a payment yet, you can contact the New York City Department of Finance at www.nyc.gov/dofcustomerservice (opens in new tab).

Rocky Mengle
Senior Tax Editor, Kiplinger.com

Rocky is a Senior Tax Editor for Kiplinger with more than 20 years of experience covering federal and state tax developments. Before coming to Kiplinger, he worked for Wolters Kluwer Tax & Accounting and Kleinrock Publishing, where he provided breaking news and guidance for CPAs, tax attorneys, and other tax professionals. He has also been quoted as an expert by USA Today, Forbes, U.S. News & World Report, Reuters, Accounting Today, and other media outlets. Rocky has a law degree from the University of Connecticut and a B.A. in History from Salisbury University.