New York S01147 creates an enhanced real property tax circuit breaker credit for residents of cities with over one million people.

New York S01147 amends the tax law to create an enhanced real property tax circuit breaker credit. This credit is available to residents of cities with a population over one million who have occupied the same residence for at least one year. The credit is based on the difference between real property taxes and a percentage of household gross income. The credit amount varies depending on the household's income level. The bill also outlines the administration of the credit, including the requirement for taxpayers to provide certain information to claim the credit.

New York S01147 creates an enhanced real property tax circuit breaker credit for residents of cities with over one million people.

New York S01147 amends the tax law to create an enhanced real property tax circuit breaker credit. This credit is available to residents of cities with a population over one million who have occupied the same residence for at least one year. The credit is based on the difference between real property taxes and a percentage of household gross income. The credit amount varies depending on the household's income level. The bill also outlines the administration of the credit, including the requirement for taxpayers to provide certain information to claim the credit.