NY State Star Program Benefits for 2014- Home Owners Must Re-Enroll!

Reblogger
Real Estate Agent with Coldwell Banker, 170 N Main Street, New City NY 10956

NY State Star Program Benefits for 2014- Home Owners Must Re-Enroll!

For all you homeowners in New York State that are benefiting by receiving STAR deductions on your school taxes, you'll have to reapply for benefits in order to receive them in 2014 and going forward.    Here's the scoop on this via a blog by my good friend Debbie Walsh.

Original content by Debbie Walsh

As part of the budget that was passed last week by the New York State Legislature, homeowners will have to re-register to receive Basic STAR benefits by April 1, 2014.  2013 tax benefits will not be affected.  

To try and prevent fraud in the STAR program, STAR will now be administered through the New York State Department of Tax and Finance.  Starting in 2014, homeowners with an income of less than $500,000 may reapply for the exemption on the first $30,000 of the assessed value on their primary residence.  This one-time renewal will eliminate those who are receiving the benefit improperly, either by having the deduction on more than one property or exceeding the maximum income level, by creating a statewide database accessible to all local enforcement officials.  Details about how and when the reapplication period will begin have yet to be released.

new york star program changes


Debra Walsh, GRI, CNE, CHMS, REM | Office (845) 928-8000 | email me
website www.viewhudsonvalleyhomes.com | search for homes

If you are Buying, Selling or Relocating to the Hudson Valley area and need help from a professional REALTOR®, I would be happy to assist you! Please visit my Hudson Valley website for property searches and to sign up for free listing alerts and other information.

facebook badge  twitter badge  LinkedIn badge  RSS badge  google badge

 

Follow Me on Pinterest
Posted by

Lora "Leah" Stern - Your Rockland County, NY REALTOR of Choice - (914) 772-4528

Your Rockland County, NY Real Estate SpecialistLeah Stern Signature Photo

Lora "Leah" Stern
Real Estate Salesperson
Coldwell Banker Residential Brokerage
(914) 772-4528 CELL
(845) 634-0400 OFFICE
(862) 345-2463 FAX

If I can assist you in any way with your real estate needs in Suffern, NY Rockland County or the surrounding areas, please feel free to contact me by phone at (914) 772-4528, email me at Leah.Stern@cbmoves.com or visit my website .

Follow Me:        Twitter icon      Linkdin icon      facebook icon     AR raindrop

 

Comments (3)

Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Leah, I just saw you come up on my blog roll and wanted to stop by and say Hello. Debra did an excellent post here about the Star Program offered in New York. Hope you are having a Good Year!

Apr 03, 2013 02:28 PM
Debbie Walsh
Shahar Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Thanks for the reblog my friend!  I miss you!  It is so important so I am trying to let everyone know so they don't miss out on the tax break.

Apr 04, 2013 01:23 AM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Jerry - Thanks for stopping by and yes, Debra did do a great job on this one.  Hope all is well with you and that you're having a successful year.

Debra - Thanks for sharing the info and glad I could reblog.  When do we get to meet IRL?

Apr 04, 2013 08:53 AM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?