Changes in S.T.A.R.

Changes in the S.T.A.R. (School Tax Relief) program which provides eligible homeowners in New York State with relief on their property taxes could bring now you more savings.

According to the NYS Department of Taxation and Finance, “due to recent changes in the law, beginning this year, the income limit for the Basic S.T.A.R. exemption is now $250,000”. 

“If you currently receive the S.T.A.R. exemption, you can choose to register for the S.T.A.R. credit to receive a check instead; you may receive a greater benefit, and your savings will never be less than the S.T.A.R.exemption benefit”.

“Due to recent changes in the law, beginning in 2019, the value of the S.T.A.R. credit savings may increase by as much as 2% each year, but the value of the S.T.A.R. exemption savings cannot increase“.

For complete information please go to  https://tax.ny.gov/pit/property/star/default.htm
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