STAR Property Tax Issues

The New York State program for the reduction of school taxes (“STAR”) changed for homeowners that purchase their homes after January 2, 2015.

Such homeowners will no longer receive the benefit of the STAR program as a reduction of their real estate tax bills for school tax. Rather, they will receive the benefit of the program in the form of check, scheduled to be mailed after September 30 of each year.

Homeowners who were already receiving the STAR exemption will continue to receive this reduction on their school tax bills. The change applies only to new homeowners.

If you have clients with income of $500,000 or less and who recently purchased a home, consider reminding them to apply for the STAR program at: https://www.tax.ny.gov/pit/property/star/.