Owning a pet may soon give you a break on your taxes
A bill being worked on by the New York State Assembly would create a tax credit for the money spent on pets.
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Owning a dog or a cat may soon lower one’s taxes.
A bill being worked on by the New York State Assembly would create a tax credit for the money spent on pets.
Owners would be able to get credit for up to two animals. For each, one can get tax credits for up to $150 on everyday expenses, like food, leashes, grooming supplies and other items deemed essential for taking care of a pet.
The credit also includes up to $300 for veterinarian costs like annual exams, medication and emergency care.
Long Island Cares' Baxter's Pet Pantry says Long Island residents spend between $150 to $300 a month for pet food. It costs as much as $4,300 a year to own a pet.
The bill is still in the works, but tax credits for pets would apply to expenses paid in 2026.
