COVID-19 Recovery Center

Homeowners

It is crucial that homeowners receive the financial relief they need to keep a roof over their head. The state has created new programs to help homeowners pay their mortgage, get help with utilities, and reduce their property tax burden.

Homeownership Relief and Protection Program

As part of the New York State Budget, the legislature created a $600 million Homeownership Relief and Protection Program using federal funds to help homeowners.

Funds from the Homeownership Relief and Protection Program can be used to provide assistance with mortgage, utility, or home energy payments, or other homeownership expenses.

The Homeownership Relief and Protection Program will be administered by the Housing Trust Fund Corporation and through community development financial institutions.

Real Property Tax Relief Credit

The New York State Budget provides a new personal income tax credit for New York resident homeowners.

Eligibility

Homeowners will generally qualify if they meet the following criteria:

1. They must live in their New York home for at least 183 days out of the calendar year;
2. Their adjusted gross income is less than $250,000 annually (with certain restrictions on losses claimed); and
3. They pay more than 6% of their income toward property taxes.

Homeowners can only claim the credit for one property.

Amount

The amount of the tax credit is based on a household’s adjusted gross income and how much they pay in property taxes:

• If your household makes less than $75,000 a year, your credit will be 14% of the amount of “excess” property tax paid. “Excess” property taxes are the amount paid about 6% of the homeowners’ income.
• For households that make between $75,000 and $150,000, and $150,000 and $250,000, there is a different formula to calculate your credit. You can refer to this article for more details

The credit is capped at $350 per household. Households whose Real Property Tax Credit calculation comes out to less than $250 will not receive the credit at all.

How to Apply

Qualified homeowners will be able to claim this new Property Tax Relief credit when filing taxes for taxable years 2021, 2022, and 2023.

Home Energy Assistance Program (HEAP)

The Home Energy Assistance Program (HEAP) helps low-income New Yorkers pay the cost of heating their homes. The state budget for the HEAP program was increased by $450 million for a total of $950 million.

How it Works

There are two programs each year: 1) heating, and 2) cooling. Eligible households may receive one regular benefit per program year. Households could also be eligible for emergency HEAP benefits if they are in danger of running out of fuel or having utility services shut off.

HEAP is available regardless of your heating source (electricity, natural gas, oil, propane, etc.).

Eligibility

Eligibility for HEAP is based on the following qualifications:

• IMMIGRATION STATUS: U.S. citizens, U.S. non-citizen nationals or permanent residents (with a valid Social Security number for each household member)
• INCOME: Households that receive SNAP, Temporary Assistance, or Supplemental Security Income are eligible, as are those with a monthly household income at or below the HEAP income guidelines.
• Owners and renters can both qualify for HEAP.

How to Apply

Eligible households can apply for HEAP online through the mybenefits.ny.gov. New York City residents can find local HEAP contacts here.

Additional information about HEAP can be found here.