This November, families across these three states will see these stimulus checks roll out just in time for Christmas. Stimulus checks provide one of the most direct and immediate interventions for authorities to provide financial assistance for their residents when a need is identified. While they do not provide long-term solutions for systemic financial crises, they can help to alleviate residents from current financial strain while a more sustainable solution is implemented.
Local authorities roll out stimulus payments this Christmas
Stimulus payments are not generally provided regularly. Instead, they are paid out to eligible recipients on an acute needs-based basis. During the COVID-19 pandemic, these types of payments played a significant role in providing financial support to families and individuals who had lost their jobs during the height of the pandemic, whereby unemployment rates reached heights not seen since the Great Depression.
While no other widespread national stimulus initiative to such a large extent has been initiated by the federal government since then, local authorities have continued to set up their own stimulus payment programs for their residents based on the unique needs pertaining to the state. Eligibility criteria to receive these payments are usually based on your annual household income, as stimulus checks are often reserved to assist low-income individuals.
With the holiday season beginning to commence, those states that are underway with providing stimulus payments for eligible beneficiaries at this time of the year will play a significant role in assisting these households to cover the expected increases in expenses that occur during this time of the year.
Residents from these states can expect to receive these stimulus payments
New York Department of Taxation and Finance is currently underway with distributing the new one-time inflation refund rebate checks to eligible New Yorkers. These payments, worth up to $400, are intended to assist beneficiaries in covering the increase in associated costs due to the rise in sales tax arising from the effects of inflation
Unlike the one-time inflation rebates, the Sacramento Department of Child, Family, and Adult Services will be sending out another monthly payment of $725 this month to the 200 caregivers who are taking part in California’s Family Financial Support Pilot (FFESP). These recurring monthly payments are part of the state’s year-long pilot program intends to investigate the feasibility of implementing a guaranteed income program for low-income families in the care of young children.
While stimulus programs are generally not recurring initiatives, the Alaska Permanent Fund Dividend is an exception to this rule. During this time of the year, state authorities send out an annual payment to their residents to ensure that the state’s 600,000 residents are able to share in their mineral and oil profits.
Tax rebates for these beneficiaries
On top of these various stimulus initiatives by a variety of states, others are continuing to distribute tax rebates for eligible taxpayers. These rebates pertain to both state income tax rebates as well as rebates for specific tax initiatives, such as property tax rebates. Last week was the deadline for New Jersey homeowners to apply for the state’s Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program, whereby eligible beneficiaries could expect the following rebates:
- Eligible homeowners can expect between $1,500 and $1,750 in rebates
- Eligible renters can expect between $450 and $700
Similar to ANCHOR, New York has also been providing residents with property tax rebates through the state’s School Tax Relief (STAR) program. To be eligible for the program, homeowners must meet specific income and age requirements. Older homeowners can qualify for a higher property tax rebate amount than working individuals. Being a state with some of the highest property taxes in the country, STAR assists in making New York more affordable for residents.
Disclaimer: Our coverage of stimulus checks, tax reliefs, tax rebates, tax credits, and other payments is based on the official sources listed in the article. All payment amounts and dates, as well as eligibility requirements, are subject to change by the governing institutions. Always consult the official source we provide to stay up to date and obtain information for your decision-making.
