As you may already know, S.T.A.R. is a state-administered program that provides for the partial reduction in taxes for certain qualified property owners. Basic STAR is available for owner-occupied, primary residences where the resident owners’ and their spouses’ income is less than $500,000 and exempts the first $30,000 of the full value of a home from school taxes. Enhanced STAR provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes and exempts the first $63,300 of the full value of a home from school taxes as of 2013-14 school tax bills.
During the last week in September, you should have received a notice of advice in the mail regarding registration for this program. And, quite naturally registration (either on line or by using paper forms) should be completed before the deadline.
Whether you are a Board member, Board president or building manager, you may want to remind your neighbors to heed the notice and follow through with the registration (which will save them money!!).
Complete information for property owners is available from New York State at http://tax.ny.gov/pit/property/star13/default.htm
Information from New York City for building managers and Boards can be found at http://www.nyc.gov/html/dof/html/property/exemptions.shtml