New York State has announced that it has increased your tax credit for parents in New York State depending on their age. That is great news for parents that will put a little extra money back in their pockets this year during tax season.
Tax Day is April 15, 2026 so you have to have your taxes done by then.
If you are doing your taxes this year, here is the money you are ‘getting back’ for the child tax credit.
The credit for qualifying children in 2025 will be claimed on a 2025 tax year return filed in 2026.
The credit for 2025 is:
$1,000 per qualifying child under four years old; plus$330 per qualifying child at least age four but less than 17 years old.Next year when you do your taxes they are going to go up again!
New York State said that this year, there is an increase in the child tax credit for this year, meaning you will file for the increase NEXT year.
If your kid is 0-4 years old the New York State Child Tax Credit = $1,000
If your kid is 4-up to 17 years old the New York State Child Tax Credit = $500
The New York State website explains that your ‘credit’ amount will go down judging by home much money you made according to your federal accounts.
Now is the time of the year where people will REALLY get heated about their taxes in New York State for a lot of reasons. First, people realize how much money that have actually paid in taxes. Then, reassessment values will come out for towns and villages who are looking to reassess the homes and properties for tax purposes. It is important to note that just because your home reassessment has gone up, that does not mean your taxes will go up, if your rate is decreasing. It is VERY important that if you do not agree with your assessment, that you file and go to your town or village’s grievance day, which is mandated to be offered by New York State.