The New York State Department of Taxation and Finance has issued a reminder to those who will reach age 65 in 2023 that the deadline to sign up for the Enhanced STAR or School Tax Relief program is March 1st, 2023. The program offers significant property tax relief to seniors who meet certain eligibility requirements.
Acting state Tax Commissioner Amanda Hiller emphasized the importance of applying by the deadline to receive additional savings. “The Enhanced STAR exemption provides significant property tax relief to more than a half million seniors,” Hiller said. “It is important for seniors who become eligible this year to apply by the deadline to receive additional savings.”
Eligible seniors who have already signed up for regular STAR, are 65 or older, and have incomes no higher than $93,200 per year can apply for the Enhanced exemption. The program offers substantial savings on school taxes and provides a reduction in the assessment of primary homes owned by qualifying seniors.
In 2022, nearly $800 million in savings from the Enhanced STAR property tax exemption was distributed among 568,000 seniors, according to the state Department of Taxation and Finance.
Those applying for the exemption will need to provide proof of income and can apply at their local assessor’s office before the March 1st deadline, which applies to most municipalities. Seniors who already receive the STAR credit will be automatically upgraded.
Homeowners can choose between an exemption or a credit for STAR, with the reduction taken off of the property tax bill or a separate check issued for the amount of the exemption. Taxation experts often recommend opting for the credit due to limits on how much the exemption can increase each year.
For additional information, homeowners can visit the STAR Resource Center at https://www.tax.ny.gov/star/ or contact the Tax Department’s STAR Hotline at 518-457-2036 on weekdays between 8:30 a.m. and 4:30 p.m. The Tax Department has also sent out notices to inform senior New Yorkers that they may qualify for exemptions on municipal and county property tax bills, which are available to those with incomes of up to $37,500, though some municipalities may have higher thresholds.
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