This week, more than 2.6 million homeowners in New York State will receive instructions on how to continue receiving the School Tax Relief exemption, otherwise known as the STAR exemption. Residents will need to reapply for the STAR program online or by phone by December 31 of this year. Citizens must provide their salaries, social security numbers, and primary residence. Since often times so much is done online, Joe Robach wants to assure seniors that their exemptions will continue, regardless if they have the ability to use a computer.
The purpose of the reregistration is part of Gov. Cuomo’s plan to crack down on fraud throughout the state and abuse of the STAR program. He anticipates this plan to save over $1million per year for the state. This will help keep costs down to the taxpayer. Joe Robach agrees that all must be done to ensure seniors can remain in their homes for as long as possible.
Joe Robach realized how important this exemption is for seniors since the average benefit for seniors is over $1,000. Senior citizens are eligible for benefit if their incomes fall below $81,900.
The STAR program, which began in 1998, provides an exemption from school taxes for most homeowners, (residents with incomes less than $500,000) and only applies to a citizens’ primary residence. Many residence are unaware there are other exemptions for property taxes as well. It is important to contact your local assessors’ office to ensure you are receiving the correct exemptions on your primary residence. With the letters being sent out beginning this week, this is a perfect opportunity to update your other exemptions and maximize your financial benefit.
According to the New York State Department of Taxation and Finance, instructions on how to re-register for the STAR exemption will be mailed out by Early October at the very latest. For more information, residents are encouraged to visit tax.ny.gov or call (5`8) 457-2036.