Taxes, Cash & Savings · Surprise rank #165
Very Low-Income NY Renter or Homeowner? Claim Up to $375 Through the IT-214 Real Property Tax Credit
New York’s refundable IT-214 credit can return part of housing-related property-tax costs to qualifying very-low-income renters and homeowners.
Who
Full-year New York residents who occupied the same residence at least six months, cannot be claimed as someone else’s dependent and meet the program’s very low income and housing limits.
What to do
Start here: Run through Form IT-214 and its instructions when filing your New York return; eligible nonfilers may still be able to file to claim the refundable credit.
Eligibility: Current rules include federal adjusted gross income of $18,000 or less, a residence not fully exempt from property tax and, for owners, total current market value of owned real property of $85,000 or less. Renters face additional rent rules.
What you get
A refundable New York income-tax credit for qualifying homeowners and renters who meet strict income, residence and property-value or rent rules.
Benefit: Up to $75 if you, your spouse and all dependents claimed are under 65; up to $375 if you, your spouse or a dependent claimed is age 65 or older.
Possible value: Maximum credit is generally $75 or $375 depending on age circumstances; actual credit can be lower.
Good to know
Important: The limits are unusually strict and some are decades-old. Do not assume ordinary low-income status is enough; use the current form and instructions for the tax year you are filing.
Availability: Active
Why people miss it: The credit is small and buried in a separate form, so people with little or no tax liability may overlook it even though it is refundable.
Sources reviewed: Aug 10, 2026