Form IT-256: 2007: Claim for Special Additional Mortgage Recording Tax Credit: IT256 Notice Concerni-2025

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special additional tax of 25 cents per $100 of mortgage debt or obligation secured.
The real property tax credit may be available to New York State residents who have household gross incomes of $18,000 or less, and pay either real property taxes or rent for their residences. The amount of the credit for each household will vary depending on income and real property taxes paid (see table to the right).
The mortgage recording tax is a fee for the registration and recording of the mortgaging and transfer of ownership of your property. Depending on your propertys location, this fee may include city, county, and state fees. This is determined based on the mortgage you secured to purchase the property.
You dont need to register again in future years unless there is a change in the ownership of your home. Well review your information every year and automatically issue a STAR credit to you if youre eligible.
What is a Mortgage Credit Certificate? An MCC provides eligible borrowers with a federal income tax credit based on a specified percentage of the mortgage interest paid each year.
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The fiscal year 2023 property tax rebate is for homeowners whose New York City property is their primary residence and whose combined income is $250,000 or less.
The Senior Citizen Homeowners Exemption (SCHE) provides a reduction of 5 to 50% on New York Citys real property tax to seniors age 65 and older. To be eligible for SCHE, you must be 65 or older, earn no more than $58,399 for the last calendar year, and the property must be your primary residence.