The New York STAR (School Tax Relief) program is a state initiative designed to provide tax relief to eligible homeowners by reducing the amount they pay in school taxes on their primary property.
This initiative is particularly beneficial for homeowners seeking to lessen their financial burden, but to qualify, certain eligibility requirements must be met.
Who is Eligible for the NY STAR Stimulus Payment?
To be eligible for the STAR program, homeowners must meet the following three criteria:
- Primary Residence: You must own and occupy your primary residence in New York State.
- Income Requirements: The amount of STAR benefit you qualify for depends on your income. The requirements vary between the Basic STAR and Enhanced STAR programs.
- Enrollment in STAR: You must be enrolled in the STAR program. If you’re not already enrolled, you will need to register with the state.
How Much Money Can You Receive from the STAR Program?
The amount you can receive from the STAR program depends on factors such as your age, income, and where you live. Generally, homeowners can expect to receive:
Basic STAR: Homeowners can receive $350 to $600.
Enhanced STAR: Seniors who qualify for the Enhanced STAR extension may receive $700 to $1,500, depending on location and eligibility.
Can You Receive STAR Benefits if You Just Bought a House?
Yes, new homeowners can apply for the STAR credit, provided the home is their primary residence and they meet the income requirements. If you have recently purchased a home, you must ensure your information is updated in the state’s records. To apply, you can visit the official website at ny.gov/STAR.
Important Considerations
Automatic Process: For many eligible homeowners, the process is automatic, and they will receive the STAR benefit without needing to take additional action.
New Homeowners: Those who have recently bought a home or moved may need to actively register to ensure they receive their tax credit on time.
