Living in a 421-a building, do i still qualify for the Renters Enhanced Real Property Tax Credit? (Albany: low income)

[iamWALRUS77]

I’m doing my taxes today and it seems like I don’t qualify. I moved into a 421a building last spring, so I’m guessing since there’s a tax abatement for the developer I don’t qualify? Is that true even if i rent?

[BugsyPal]

Originally Posted by iamWALRUS77

I’m doing my taxes today and it seems like I don’t qualify. I moved into a 421a building last spring, so I’m guessing since there’s a tax abatement for the developer I don’t qualify? Is that true even if i rent?

https://sites.google.com/site/unionc...rty-tax-credit

[Wakanda18]

I haven’t met anyone that qualifies for that tax credit

[BugsyPal]

Originally Posted by Wakanda18

I haven’t met anyone that qualifies for that tax credit

Nearly all of online tax preparation services (at least the good ones) will flag your NYS return based upon your AGI that you *may* qualify. You are then taken to a series of questions or whatever to determine if indeed it is so.


However in general the tax credit is not huge giveaway from Albany; one must be both low income *and* paying significant sums in rent in relation to that amount to receive any sort of benefit.


Since many low income households live in NYCHA, and other housing that are properties not subject to RE taxes, that crosses a significant number off the list.