Calculating Your Income

How does the Department of Finance calculate my income?

All sources of income are included to calculate income and determine eligibility. SCRIE and DRIE both use taxable and non-taxable income to determine eligibility according to legislation governing both programs. However, gifts and inheritances are NOT included as income.

What deductions are allowed in calculating income for the program?

  • Federal, state and local taxes; and
  • Social Security taxes

What deductions are NOT allowed in calculating income for the program?

  • Medical expenses
  • Medicare premiums
  • Capital or business losses

How do I show income if I do not file taxes?

You are not required to file taxes to qualify for any of the NYC Rent Increase Exemption Programs. However, you must submit any documentation you have that shows how you and your household members receive income such as Social Security statements, pension statements, IRA/Annuity statements (including earning statements), IRS forms 1099 and/or W2.

If you receive financial assistance from family or friends, please submit a letter from the individual(s) providing support detailing the amount and the situation.

Will my increased Social Security benefits be included in my household’s income?

Please note that beginning in January 2022, Social Security benefits increased by 5.9% over calendar year 2021. However, since the Consumer Price Index (CPI) increase in calendar year 2021 was 7.0%, your increased Social Security benefits for calendar year 2021 will not be included in the calculation of your household’s total aggregate disposable income to determine your eligibility for the Rent Freeze Program.