New York Homeowner's Do You Have Your STAR - Save On School Taxes

Real Estate Agent with Better Homes and Gardens Rand Realty

New York Residents..... Have you filed for a STAR exemption on your primary residence?

I have been doing a little research in my neighborhood and found that there are quite a few houses that are not claiming a STAR exemption.  If you are the owner of a home that is your primary residence and the combined yearly income of the owners and spouse(s) who live there does not exceed $500,000 you should be claiming some relief on your School Tax Bill.  Some people it seems are unaware of the savings which can range from around $700 to $900 per year depending on the tax rate in your town.  Savings for Senior Citizens under the Enhanced STAR Program are even higher

Information on STAR as quoted from NYState form RP-425  "The New York State School Tax Relief (STAR) Program provides an exemption from school taxes for owner-occupied, primary residences where the combined 2010 income of the owners and spouses who reside on the property does not exceed $500,000. Senior citizens with combined 2010 incomes that do not exceed $79,050 may qualify for a larger “Enhanced” exemption. Senior citizens who wish to continue receiving Enhanced STAR in future years without having to reapply and submit copies of their tax returns to their assessor every year are invited to sign up for the STAR Income Verification Program. Please see Form RP-425-IVP for more information. Seniors who do not choose to enroll in the income verification program must reapply each year to keep the Enhanced exemption in effect. If you are receiving the “Basic” exemption, you usually do not need to reapply in subsequent years, but you must notify the assessor if your primary residence changes and must provide income documentation when requested."

In most areas the deadline for application is March 1st so don't hesitate.  How do you know if you have your STAR?  Check on your last school tax bill, with your local tax assessor, or you can give me a call and I will check it out for you.  I can also give you an idea of the current market value of your home, help you list and sell it, or help you or someone you know search for a new home.  


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Paddy (Patricia) Pizappi

Real Estate Associate Broker Hudson Valley NY
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