New York STAR Benefits: A Powerful Guide to Saving Money Now
What Mohawk Valley homeowners should know about registering, staying eligible and avoiding costly mistakes.
By Michelle LaGuerre | Utica Phoenix
New York STAR benefits can lower the school-property-tax burden for eligible homeowners, but the savings are not automatic for everyone. A new owner generally must register with the state, while current recipients should keep their information accurate and respond promptly to official letters. For homeowners in Utica and across the Mohawk Valley, a few careful steps can help protect a benefit that may be worth hundreds of dollars a year.
What New York STAR benefits actually do
STAR stands for School Tax Relief. It is a New York State program that provides eligible owner-occupied primary residences with relief from school property taxes. Depending on the homeowner and how the property was enrolled, the benefit may appear as a credit paid by the state or as an exemption shown on the school tax bill.
The two main levels are Basic STAR and Enhanced STAR. Basic STAR is generally for eligible owners of a primary residence who meet the program’s income rules. Enhanced STAR provides a larger benefit for eligible older homeowners who meet age and income requirements…