Eligible New York homeowners looking to switch the status of their School Tax Relief exemption program, which gives an exemption on a portion of school property taxes or a rebate check for certain eligible homeowners, are encouraged to do so by Dec. 31 for certain tax years. There are two types of STAR programs in New York that homeowners can benefit from — the School Tax Relief Program Basic and the Enhanced School Tax Relief. New Yorkers cannot receive benefits from both programs but can make the switch from the STAR credit to the STAR exemption if eligible.
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While New Yorkers can switch from the STAR credit to the STAR exemption any time during the year, applying on or before Dec. 31 of the year of the credit will ensure applicants see the STAR exemption on their school tax bill in the year they registered for.
The Basic STAR exemption is offered by New York City and will appear on the eligible homeowner’s property tax bill. Eligible homeowners with incomes below $250,000, regardless of age, can qualify for this exemption. The average Basic STAR check in New York is $778.
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The Enhanced STAR exemption is offered by New York State and provides a larger benefit to seniors who meet income and eligibility standards. Applicants must be 65 or older by Dec. 31 of the year of the exemption, but if the property is jointly owned, only one spouse or family member needs to be 65 by that date. Those interested must own their home, and it must be their primary residence. The qualifying income limit for all owners and resident spouses or registered domestic partners cannot exceed $98,700, according to the New York City Department of Finance.
The average check in New York is $1,407 for Enhanced STAR, which should be issued by the end of the year, depending on the year applied.
