How the inflation rate is affecting your wallet
How the inflation rate is affecting your wallet
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New York will soon start sending out its promised inflation refund checks to eligible residents.
The Department of Taxation and Finance says the checks will start hitting the mail at the end of September.
Officials previously said the one-time payments would be sent out this fall, but the exact timing was not known.
Who is eligible for New York’s inflation refund checks?
New York will soon be sending inflation refund checks to eligible residents. Here is sample of what to watch for.
New York State Department of Taxation and Finance
The checks will be automatically mailed to eligible residents, so there’s no action required.
Eligibility is based on tax filings from 2023.
The checks are expected to reach more than 8 million residents, including more than 3.6 million in New York City, 1.4 million on Long Island and nearly 1 million in the Hudson Valley — places most impacted by congestion pricing.
How much to expect from N.Y. inflation refund check
Under the final version of the plan, single taxpayers making $75,000 or less will receive a check of $200, and those making $150,000 or less will get $150.
Joint filers who make $150,000 or less will receive $400, and those making $300,000 or less will get $300.
- Single filers who make $75,000 or less = $200
- Single filers who make more than $75,000, but not more than $150,000 = $150
- Joint filers who make $150,000 or less = $400
- Joint filers who make more than $150,000, but not more than $300,000 = $300
New York Gov. Kathy Hochul says the funding is coming from the money the state collected in higher sales taxes because of inflation.
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