Governor Kathy Hochul announced on Wednesday that millions of New Yorkers will soon receive “inflation refund checks” this fall.
Around 8.2 million households are expected to be eligible for these relief payments, part of a larger state budget plan totaling $254 billion.
Eligible tax filers can expect direct payments of up to $400, which will be distributed through November.
“Starting in October, over 8 million New Yorkers will receive an inflation refund because it’s rightfully yours. We’ll put this money back in your pockets,” Hochul said.
Checks will be mailed directly to those who qualify, and the governor’s office has stated that there is no need to apply.
Residents must have filed a New York State income tax return for the 2023 tax year to qualify.
Additionally, individuals should have a state-adjusted gross income under $150,000; joint filers must earn less than $300,000.
The amount of the check will vary based on income and filing status.
For instance, individual filers earning below $75,000 will receive $200, while those earning between $75,000.01 and $150,000 will get $150.
This initiative aims to assist New Yorkers in managing the increasing cost of living. Hochul emphasized, “I will continue my efforts to support your family during these challenging times by advocating for tax cuts, expanding child tax credits, and providing free school lunches for all students.”
