Shopping Cart
Your Cart is Empty
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should be receiving an order confirmation from Paypal shortly.Exit Shopping Cart

K&D Tax & Bookkeeping Services Inc

Experienced Tax Professionals

Notary Public

Howard Beach, NY



Property tax freeze credit

Posted on October 2, 2014 at 12:35 AM

The property tax freeze credit is a new two-year tax relief program that reimburses qualifying New York State homeowners for increases in local property taxes on their primary residences.


Eligibility requirements for 2014


To receive the credit in 2014, homeowners must meet the following eligibility requirements:


Receive the STAR property tax exemption.

- The property must be the homeowner's primary residence.

- The total household income must be $500,000 or less.


The school district where the homeowner's property is located must comply with the New York State Property Tax Cap. Find out if your school district complied with the tax cap this year on our tax cap compliance page.

How to get the credit


In the Fall of 2014, the Tax Department will automatically mail checks to eligible homeowners. Eligible homeowners do not need to do anything to receive the credit. The Tax Department will review eligibility data and calculate the credit.


Homeowners who do not receive a check and who believe they are entitled to the credit (or who believe their credit was incorrectly calculated) will be able to contact the Tax Department to have their case reviewed.


Credit amounts


As a general rule, the freeze credit will fully reimburse eligible homeowners for increases to their property taxes. The freeze credit will be the greater of:


the actual increase in the homeowner's tax bill, or

the previous year's tax bill multiplied by an inflation factor (the lesser of 2% or inflation). For 2014, the inflation factor for school districts is 1.46%.

Homeowners whose tax bills go down, stay the same, or increase less than the inflation factor will receive a credit equal to the previous year's tax bill multiplied by the inflation factor.




There are some exceptions. The credit will not reimburse homeowners for increases that are the result of:


improvements to the property that increase its value,

changes in a property's exemption status, or

a jurisdiction-wide reassessment to the extent the increase in the property's assessed value exceeds the average change in assessed value.


Co-ops and mobile homes


The credit for co-ops and mobile homes that are not separately assessed will be calculated as follows:


Co-op owners: the credit will be 60% of the average credit for the jurisdiction.

Mobile home owners: the credit will be 25% of the average credit for the jurisdiction.


Buffalo, Rochester, Syracuse and Yonkers


Different rules apply in Buffalo, Rochester, Syracuse and Yonkers. These cities impose a single levy that includes both city and school district taxes. For purpose of the freeze credit, 67% of the tax is attributable to school tax and 33% attributable to city tax. In 2014, the credit will be equal to that part of the property tax increase attributable to school tax (67%).


New York City


New York City is not subject to the tax cap. For this reason, city residents are not eligible for this credit. New York City homeowners and renters may, however, be eligible for the New York City Circuit Breaker Tax Credit.

Categories: Professionalisim, Accuracy

Post a Comment


Oops, you forgot something.


The words you entered did not match the given text. Please try again.


Reply GulyaevMency
2:28 AM on July 11, 2020 
930a31 cialis average retail price canadian pharmacy cialis jelly
Reply WiktoriyaMency
2:58 AM on July 11, 2020 
659e31 el viagra y la hipertension prix medicament cialis maroc can i buy viagra in malaysia
Reply WarrJhovaniMency
3:14 AM on July 11, 2020 
trial generic cialis - i took 40mg of cialis
usefull link cialis cheap buy

cialis barato sper
Reply NidaMency
3:49 AM on July 11, 2020 
picture of is pills

16b9 donne is pillola

16b9 is clinical trials

Reply WarrJhovaniMency
4:05 AM on July 11, 2020 
what is generic for cialis - acquisto cialis in italia
cialis black 800mg in malaysia

gnrique cialis inde
Reply LadaMency
4:11 AM on July 11, 2020 
is cheapest online prices

1a96 be is copenhagen

1a96 is effets secondaires foru

1a96 easybe is

Reply WarrJhovaniMency
4:22 AM on July 11, 2020 
cialis 20 controindicazioni - comprar cialis en europa
how strong is 5mg of cialis

commande cialis quebec
Reply WarrJhovaniMency
4:29 AM on July 11, 2020 
cialis prices duane reade - should i take two 5mg cialis
enter site generic cialis site

there generic cialis drug
Reply WarrJhovaniMency
4:46 AM on July 11, 2020 
cialis at low price - visit web site cialis 50 mg
acquisto cialis

cialis price 50mg
Reply BeardenSwanMency
5:09 AM on July 11, 2020 
cialis cialis - enseignement sp cialis
cheap cialis online

cialis tab uk
Reply BeardenSwanMency
5:12 AM on July 11, 2020 
cialis cheap online 5mg - cialis forum alfemminile
cialis non generi

precios del cialis
Reply BogdanMency
5:39 AM on July 11, 2020 
acheter de is

Reply GlotkovMency
5:51 AM on July 11, 2020 
is canada com reviews

Reply BaranovMency
6:27 AM on July 11, 2020 
638431 prescrizione viagra libero uk
Reply MishaMency
6:57 AM on July 11, 2020 
922231 viagra cost in hyderabad
Reply BeardenSwanMency
7:50 AM on July 11, 2020 
cialis 20mg canadian - buy cialis online cheap more
cialis printable free

online no cialis brand buy
Reply BeardenSwanMency
7:57 AM on July 11, 2020 
cialis online fda - cialis apotheke venlo
cheap cialis online

cialis for sale in the uk
Reply KhoiMency
8:02 AM on July 11, 2020 
be0011 cialis preise rezeptfrei

cialis onlinecialis 20mg lilly kaufe

discount cialiscialis comprar espan

buy cialis online safelycialis de 5mg precio en mexico

online cialis
Reply BeardenSwanMency
8:25 AM on July 11, 2020 
cialis super pill - buy generic cialis
generique cialis internet

buy india cialis
Reply BeardenSwanMency
8:38 AM on July 11, 2020 
cialis hta - cialis forum alfemminile
buy cialis online

vente cialis le ru