MAY 09, 2023
The NYS STAR Exemption is a property tax exemption program that provides a partial exemption from school district taxes for eligible homeowners. The acronym "STAR" stands for School Tax Relief, and the program is designed to provide financial assistance to homeowners who are struggling to pay their property taxes.
The NYS STAR Exemption works by reducing the amount of school district taxes that eligible homeowners have to pay. There are two types of STAR Exemptions: Basic and Enhanced.
The Basic STAR Exemption is available to all homeowners who meet certain eligibility requirements. To be eligible for the Basic STAR Exemption, you must:
The Enhanced STAR Exemption is available to homeowners who are 65 years of age or older and meet certain income requirements. To be eligible for the Enhanced STAR Exemption, you must:
The NYS STAR Exemption provides a significant financial benefit to eligible homeowners. The amount of the exemption varies depending on the school district in which the property is located, but it can be up to $1,000 or more per year.
To apply for the NYS STAR Exemption, you must fill out an application form and submit it to your local assessor's office. The deadline for applying for the Basic STAR Exemption is March 1st, and the deadline for applying for the Enhanced STAR Exemption is generally around the same time.
In conclusion, the NYS STAR Exemption is a property tax relief program that provides financial assistance to eligible homeowners in New York State. If you are a homeowner who is struggling to pay your property taxes, you may be eligible for the program. Contact your local assessor's office to learn more about the eligibility requirements and how to apply.
This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
