What Is the New York School Tax Relief Exemption?
The state of New York has a program known as STAR --- school tax relief exemption. Through this program, New York homeowners may qualify for an annual property tax reduction. The STAR program was started in 1997 to help homeowners cope with rising property taxes. School property taxes in the state are growing at twice the rate of inflation and are the highest in the United States, according to the state of New York's website.
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Eligibility
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STAR offers two programs: Basic and Enhanced. To qualify for Basic, you must own a home in the state and make it your primary residence. To qualify for Enhanced, the criteria is the same; plus, you must be age 65 or older and the combined income of all owners in the home must not exceed $73,000 annually.
Multiple Owners
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If several individuals own a home, only one must use it as a primary residence to qualify for STAR. All owners must be listed on the STAR application, but not all must reside in the home.
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Benefit Amount
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The state makes an annual determination on the benefit amount to award homeowners. Although this amount may change at any time, it has typically been about $200 under Basic STAR and $350 under Enhanced STAR.
Applications
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Applications are available through calling 311 or visiting nyc.gov/STAR. The application deadline is March 15 to reduce the amount of property tax beginning in July 1 of the following year.
When to Reapply
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Once you have been approved to participate in STAR, you do not need to reapply unless you move or turn 65 and need to switch from Basic to Enhanced.
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Resources
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