This 2025 will bring new money to New York State residents. It is a $500 check that represents great news for New Yorkers. Let’s remember that in the last time they have seen rising prices for food, gasoline, among many other products. Therefore, this government aid works as a lifeline for hundreds of families.
Undoubtedly, inflation is a problem that affects all families in New York State. According to the U.S. Inflation Calculator, the annual rate was 2.7 percent. And while many Americans think that the country is the only one suffering from this situation, they should know that this is not the case.
Angola, for example, has an inflation rate of 28.41 percent, while Bangladesh’s is 11.38 percent. Burundi, meanwhile, has inflation of 21.9 percent, Egypt has 25.5 percent and Iran 34.5 percent. This is confirmed by Trading Economics, in an analysis it published on its website.
Now, returning to the U.S. situation, it could be said that inflation has greatly affected thousands of families. For this reason, Governor Kathy Hochul plans to put money back into the pockets of New York families with a check worth $500.
The amount of the check will vary depending on a few factors. For example, single taxpayers earning up to $150,000 a year, will receive checks of $300. Meanwhile, families earning up to $300,000 a year will receive $500. Approximately 8.6 million New Yorkers will receive $3 billion in refunds, according to the news posted on the NY state web portal.
Number of people in each region of New York who will receive these checks of up to $500
- New York City: 4,989,000
- Hudson Valley: 986,000
- Western New York: 620,000
- Finger Lakes: $542,000
- Capital Region: $502,000
- Central New York: 340,000
- Southern Tier: 263,000
- Mohawk Valley: 208,000
- North Country: 163,000
New York Unclaimed Funds
The official website of the New York State Comptroller has made a rather interesting announcement: the state will return $1.5 million to those who file a claim for unclaimed funds. This money comes from dormant bank accounts, insurance policies or uncollected refunds. It is also part of amounts owed for undelivered goods or services, paid inventory and uncashed checks.
To check if you are eligible for this refund, you should go to the New York State Comptroller’s unclaimed funds website. In this digital space, you will have to search for your name. If you find it in the databases, the only thing left to do is to follow a few small steps.
The state will return money to a large number of people, the amount depending on the city in which they reside. For example, in Middletown, 1,167 residents or businesses have money waiting to be claimed. The figure rises in Newburgh, where 1,428 accounts await their owners with money inside them. Even smaller places, such as Monroe, Chester and Warwick, hundreds of people could receive these checks from the New York government.
It is worth noting that, over time, the money contributed to these types of accounts accumulates in state coffers, generating a considerable fund. By the end of 2024, data indicated that this situation affected more than 3,000 citizens in Orange County alone. For this reason, if other cities are taken into account, the numbers would increase exponentially.
Don’t forget that you can continue to read the latest economic news and topics of interest in the specialized section of this U.S. digital newspaper.
