Register for your STAR Exemption
Upstater | August 28, 2013One of the things we hear over and over again from readers is that taxes can make or break a property. And taxes aren’t so straight forward. Assessments can change drastically, and sometimes listings estimate taxes but don’t include the full breadth of them, and new home owners get hit with a doozy of a bill.
But here’s some good news (for home owners, if not schools): the School Tax Relief exemption, or STAR, allows primary homeowners in most corners of New York State to withhold between $30,000 and $63,300 of the value of their homes from school taxation.
Here are the eligibility requirements:
Basic STAR
- available for owner-occupied, primary residences where the resident owners’ and their spouses income is less than $500,000
- exempts the first $30,000 of the full value of a home from school taxes
Enhanced STAR
- provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes
- exempts the first $63,300 of the full value of a home from school taxes as of 2013-14 school tax bills (up from $62,200 in 2012-13)
The catch: this year you have to register.
Read On, Reader...
-
Jane Anderson | April 1, 2024 | Comment A Westtown Barn Home with Stained-Glass Accents: $799.9K
-
Jane Anderson | March 25, 2024 | Comment A c.1920 Three-Bedroom in Newburgh: $305K
-
Jane Anderson | January 30, 2024 | Comment A Renovated Three-Story Beauty in Poughkeepsie: $695K