1. NY-3 NY TRAINING - 2009 1 NY REAL PROPERTY TAX CREDIT IT 214 REF: IT 214 INSTR IT 201 INSTR NY PUB 99-IND

2. NY-3 NY TRAINING - 2009 2 REAL PROPERTY TAX CREDIT  WHAT IS IT?  WHEN DO WE ENCOUNTER IT?  HOW DO WE HANDLE IT?

3. NY-3 NY TRAINING - 2009 3 REAL PROPERTY TAX CREDIT CONDITIONS  REFUNDABLE CREDIT  RESIDENCE SUBJECT TO PROPERTY TAXES  HOUSEHOLD INCOME L/E $18000  FULL YEAR NY RESIDENTS  2 CAPS BASED ON AGE  CAN BE STAND ALONE  OWNERS AND RENTERS

4. NY-3 NY TRAINING - 2009 4 LINK FROM IT 201 TO IT 214

5. NY-3 NY TRAINING - 2009 5 IT 214 ELIGIBILITY QUESTIONS FOR EVERYONE

6. NY-3 NY TRAINING - 2009 6 REAL PROPERTY TAX CREDIT RENTER

7. NY-3 NY TRAINING - 2009 7 REAL PROPERTY TAX CREDIT RENTER EXAMPLE  SINGLE TAXPAYER AGE 65  PENSION INCOME$7,200  SOCIAL SECURITY$4,820  MEDICARE PART B $420  MONTHLY RENT $275

8. NY-3 NY TRAINING - 2009 8 HOUSEHOLD INCOME QUESTIONS

9. NY-3 NY TRAINING - 2009 9 RENTER PROPERTY TAX CREDIT

10. NY-3 NY TRAINING - 2009 10 RENTER CREDIT COMPUTATION

11. NY-3 NY TRAINING - 2009 11 RENTER CREDIT ON IT 201

12. NY-3 NY TRAINING - 2009 12 REAL PROPERTY TAX CREDIT OWNER

13. NY-3 NY TRAINING - 2009 13 PROPER TAX ENTRY ON IT 214  2 METHODS TO CALCULATE  ONLY TAXES PAID  TAXES PAID PLUS TAXES EXEMPTED BY SECTION 467 (SENIOR CITIZEN EXEMPTION)  USE METHOD CREATING LARGER CREDIT

14. NY-3 NY TRAINING - 2009 14 FROM PROPERTY TAX BILL TO IT 214  PROPERTY TAX BILL  SHOWS PROPERTY TAX PAID  SHOWS PROPERTY VALUE EXEMPTED  FOR VARIOUS REASONS  IT 214  REQUIRES PROPERTY TAX PAID  REQUIRES PROPERTY TAX EXEMPTED BY SECTION 467 ONLY

15. NY-3 NY TRAINING - 2009 15 A TAX NOT PAID  $30,000 CAR @ 10% SALES TAX  SALES TAX=$3,000  DEALER REDUCES PRICE BY $6000  HOW MUCH IS SALES TAX REDUCED?  TAX REDUCTION=  PRICE REDUCTIONxTAX RATE  =$6000 x 0.10 =$600

16. NY-3 NY TRAINING - 2009 16 OWNER INCOME  SINGLE TAXPAYER AGE 65  PENSION INCOME$8,000  SOCIAL SECURITY$5,900  MEDICARE PART B $900

17. NY-3 NY TRAINING - 2009 17 OWNER SCHOOL TAX BILL  ESTIMATED TRUE MKT VALUE $80,000  ASSESSED VALUE $34,000  VALUE EXEMPT-SECTION 467 (CTS) $15,000  VALUE EXEMPT-SENIOR STAR $14,000  TAXABLE VALUE$5,000  TAX RATE PER $1,000 VALUE $70.00000  SCHOOL TAX PAID $350

18. NY-3 NY TRAINING - 2009 18 OWNER TOWN TAX BILL  ESTIMATED MKT VALUE $80,000  ASSESSED VALUE $34,000  VALUE EXEMPT-SECTION 467 (CTS) $15,000  VALUE EXEMPT-VETERAN$3,000  TAXABLE VALUE $16,000  TAX RATE PER $1000 VALUE$30.00000  TOWN & COUNTY TAX PAID $480

19. NY-3 NY TRAINING - 2009 19 SCHOOL AND TOWN TAX PAID  SCHOOL TAX PAID$350  TOWN TAX PAID$480  TOTAL TAX PAID $830

20. NY-3 NY TRAINING - 2009 20 OWNER SCHOOL AND TOWN TAX EXEMPT (467 ONLY)  SCHOOL TAX EXEMPT  $15,000 x 70/1,000$1,050  TOWN TAX EXEMPT  $15,000 x 30/1,000 $450  TOTAL TAX EXEMPT $1,500

21. NY-3 NY TRAINING - 2009 21 OWNER HOUSEHOLD INCOME ON IT 214 P1

22. NY-3 NY TRAINING - 2009 22 PAID AND EXEMPTED TAXES ON IT 214 P2

23. NY-3 NY TRAINING - 2009 23 CREDIT ON IT 214 P2 USING PAID AND EXEMPT TAXES

24. NY-3 NY TRAINING - 2009 24 CREDIT ON IT 201

25. NY-3 NY TRAINING - 2009 25 CREDIT ON IT 214 P2 USING ONLY TAXES PAID

26. NY-3 NY TRAINING - 2009 26 PARTIAL EXEMPTION  TOTAL ASSESSED VALUE$30,000  TAXABLE VALUE TOWN $24,000  TAXABLE VALUE FIRE DISTRICT$30,000  VALUE EXEMPTED-SECTION 467 (CTS) $6,000  VALUE EXEMPTED-VETERAN $1,000  TAX RATE TOWN PER $1,000$20.00000  TAX RATE FIRE DISTRICT PER $1000 $5.00000  TOTAL TAX RATE PER $1,000$25.00000  WHAT IS EXEMPTED TAX FOR IT 214?

27. NY-3 NY TRAINING - 2009 27 REAL PPROPERTY TAX CREDIT QUESTIONS?