How to Know if You Have Bern Approved for the Star Program
| | How the STAR |
Associates Speaker Sheldon Silver
270 Broadway, Suite 1800, New York, NY 10007 (212) 312-1400
Room 932 LOB, Albany, NY 12248 (518) 455-3791
(Note: You may download the STAR application class from the Associates web site. The form is in Adobe PDF format, so in order to view or print it you will need, if you have not already washed and so, to install the complimentary Adobe Acrobat Reader software, which tin can be downloaded from Adobe'south web site.) What is STAR ? STAR is the New York State School Tax Relief program that provides an exemption from school belongings taxes for owner-occupied, principal residences. This country-financed exemption is authorized by section 425 of the Existent Property Tax Law.
Who is showtime eligible for the STAR exemption?
Starting with the 1998-99 school year eligible senior citizens can become a pause on school taxes nether the "enhanced" STAR exemption. To be eligible, property owners must be 65 years of historic period or older with incomes that practise not exceed $threescore,000 a year. For belongings owned by a married man and wife, only one of them has to be at least 65 years of age. Their combined annual income, withal, must not exceed $threescore,000.
What is the "enhanced" STAR exemption?
That refers to the STAR exemption bachelor to senior citizens whose incomes do not exceed $60,000. Seniors will receive at least a $l,000 exemption from the total value of their belongings. The "enhanced" STAR exemption volition provide an average school property revenue enhancement reduction of at least 45 per centum annually for seniors living in median-priced homes. Senior citizens whose annual incomes exceed $sixty,000 will exist eligible for the "basic" STAR exemption.
When will the STAR exemption exist available for other residential belongings owners?
The "basic" STAR plan will be extended to all main-residence homeowners, regardless of age or income, starting with school year 1999-2000. The "basic" exemption will begin with at to the lowest degree a $10,000 full-value assessment exemption in schoolhouse year 1999-2000 and volition be phased in over 3 years to at least $30,000 in schoolhouse year 2001-02.
What is the "bones" STAR exemption?
The "basic" STAR exemption will be available to all residential property owners, regardless of age or income, starting in school twelvemonth 1999-2000. When the basic exemption is fully phased in, they will receive at least a $30,000 exemption from the full value of their property. The exemption will begin with at least a $10,000 full-value exemption in school year 1999-2000, and be phased in over three years to at least $xxx,000 in school year 2001-02. By then, the "bones" STAR exemption will be providing an average school property tax reduction of at least 27 percent annually for persons living in median-priced homes.
How will I know how much my STAR exemption is worth in terms of tax dollars?
Your school tax pecker will state the amount of the STAR exemption and your savings. This data will be included as a upshot of a new "Belongings Taxpayer'southward Nib of Rights" that also is part of the STAR program and will be used for the first fourth dimension with school property tax bills for 1998-99.
Other information on the new taxation bill or an optional 'Bill of Rights' notice will include the market value of your property; the percent of market value used in assessing property in your locality; the full tax levy and percent change from the prior year; and how to seek an assessment reduction through the grievance process if y'all believe your property's assessment is too high.
Does the STAR exemption employ to all taxes on my property?
The STAR exemption applies just to school district taxes. It does not apply to holding taxes for other purposes, such as county, town or metropolis.
How is the STAR exemption computed in places that do not appraise properties at their total, market value?
The STAR exemption will be adapted by employ of State equalization rates to reflect the fractional level of assessment in localities that do not appraise belongings at total, market value.
What types of backdrop may exist eligible?
To be eligible for either the "enhanced" or "basic" STAR exemption, persons must own and live in a one, two, or three-family unit residence, mobile abode, subcontract habitation, condominium or cooperative flat.
What is meant by my chief residence?
There is no i single cistron that determines whether a property is your primary residence, but factors such as voting, vehicle registrations, and length of time spent each yr on the holding may be relevant. The assessor may ask you to provide proof of residency with the application. In improver, the assessor may occasionally request proof of residence afterward the exemption has been granted to verify that the property remains your principal residence.
What if part of the property is used for other than residential purposes?
A mixed-employ property is eligible for the exemption if information technology is the possessor's primary residence.
I own more one residential property. Can I receive the STAR exemption on all the residences I own?
No. The STAR exemption can be applied only to your primary residence.
I currently receive an "over 65" property tax exemption under section 467 of the Real Holding Tax Law. Am I entitled to both this exemption and the new STAR exemption?
Yep. Low-income seniors who will be receiving the pre-existing senior denizen's exemption automatically qualify for the STAR exemption. As a result, they need only to file and qualify for the pre-existing exemption, and they will receive both that exemption and the STAR exemption.
The new STAR law also requires that assessors apply the pre-existing senior citizen exemption and whatever other applicable exemption to the property'south assessed value before applying the STAR exemption. This will result in greater exempt amounts for eligible senior citizens.
I am a senior denizen who is not eligible for the "over 65" exemption only my income does not exceed $60,000. How do I get the STAR exemption?
If yous are a senior whose property is not receiving an "over 65" senior citizen exemption, your holding may still exist eligible for the "enhanced" STAR exemption, but you lot must apply for it with the local assessor, not the state. If your application is granted, you then must reapply each yr thereafter in order to keep the enhanced exemption in result.
What is the process for non-seniors or seniors whose combined incomes exceed $60,000?
They must file a completed application class for the "basic" STAR exemption with their local assessor. The STAR exemption is a state-funded programme, only the form must be filed with the local assessor, not with the country. It is the local assessor who has the responsibleness for reviewing the application and determining eligibility.
Property owners who are granted the "bones" STAR exemption by and large will not demand to reapply in subsequent years. However, they volition need to notify their assessor if their primary residence changes.
Where do I get the STAR application form?
The awarding grade is RP-425 is bachelor at the offices of local assessors. Additional locations and borderline reminders will exist advertised.
Is there a deadline by which I must file the application course?
Yes. The deadline for STAR applications (both "enhanced" and "bones") is the "taxable status date" which is the engagement your assessor must finalize your assessment and exemption data.
For case, the taxable condition date in New York Metropolis is January fifth, so that engagement is the deadline for filing the STAR application in New York City. Remember, the taxable status engagement varies in each assessing jurisdiction so cheque with your city or town assessor for your local STAR application deadline.
Where do I file the application form?
With your local assessor. Do not file the awarding with the New York Country Office of Real Property Services or any other State agency.
Do I have to prove my age?
Aye. The first time y'all, a senior denizen, utilise for the STAR exemption, you must give satisfactory proof of historic period, such as a birth certificate or baptismal document. If those documents are unavailable, yous may furnish a hospital nativity record, an affidavit of age from the Social Security Administration, marriage record, passport, military machine record, immigration documents or other reliable records that evidence your age. Remember, for belongings endemic by a hubby and wife, but ane of them has to be at least 65 years quondam by the filing borderline (taxable status date).
Homeowners applying for the "basic" exemption do not have to supply proof of age.
Practise I have to evidence my income?
Yep, only only for those property owners who are applying for the "enhanced" STAR exemption available to senior citizens whose incomes do not exceed $60,000. Call back, for property owned by a husband and wife, their combined annual income must be no greater than $60,000. Be sure to attach to your application course copies of your latest federal or New York State income tax return, in addition to proof of age.
For 1998, your income for STAR purposes is not necessarily the same as your income for federal or state income tax purposes. However, starting in schoolhouse tax year 1999-2000, your income for STAR purposes is the same as your income for federal income tax purposes, less distributions from IRAs or individual retirement annuities.
To bear witness income, provide a copy of your latest federal or state income tax render, which is kept confidential.
Homeowners applying for the "basic" STAR exemption do not take to supply any proof of income.
May the STAR exemption be granted if the holding has been placed in a trust?
Yes, if all of the beneficiaries authorize.
Are the income documents I submit with my STAR application kept confidential?
Yep, the law requires your income data to exist kept confidential by the local assessor and any municipal officer or employee. Violations volition be discipline to penalty under the General Municipal Constabulary.
Would an otherwise qualified person remain eligible to receive the STAR exemption if he or she, by deed, reserved a life estate and granted someone a remainder interest in the property?
Yes. The holder of a life manor is entitled to possession and use of the property for the duration of his or her life and is deemed to exist the possessor for all purposes, including taxation. The rights of the recipient, with respect to ownership of the holding, do not come into being until the decease of the life tenant.
What if I purchase a new primary residence?
The exemption is not transferred automatically. You volition have to utilise for the exemption on your new chief residence.
Are in that location any penalties associated with filing a false application?
Yes, in that location is a penalty for material misstatements. Anyone who misrepresents his or her master residence, historic period or income may exist subject to a $100 punishment, may be prohibited from receiving the STAR exemption for five years, may accept to render upward to three years of tax savings, and may be subject area to criminal prosecution.
Where can I become more information about the STAR programme?
You tin can contact Assembly Speaker Silver by electronic mail at speaker@assembly.land.ny.u.s., by telephone in New York City at (212) 312-1400, and in Albany at (518) 455-3791. For local information about the STAR program, contact your town assessor'southward office.
Source: https://nyassembly.gov/Reports/STAR/
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