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Homeowners
can receive tax exemptions under the New York State School Tax
Relief (STAR) program.
Your tax bill shows the total amount
you are exempt from paying under STAR. The state reimburses schools
for taxes that residents are exempt from paying.
There are two types of STAR exemptions:
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The Enhanced STAR Exemptions:
Senior citizens age 65 and older with an annual household income of
less than $70,650 per year can receive an approximate $50,000
exemption on the assessed value of their home.
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The Basic STAR Exemption: For all other
homeowners, this means that approximately $30,000 of your home's
full-property value will be exempt from school taxes.
To receive the STAR benefits, you must
fill out an application with the city assessor's office. Contact the
city assessor at 434-5155.
Please note: STAR does not add new money
to school tax coffers or result in a loss of tax dollars. New York State
reimburses Albany dollar-for-dollar for the tax relief it provides
district homeowners. |
