New Yorkers aged 65 and over have until March 1, 2024, to apply for the Enhanced STAR property tax exemption, a program aimed at providing significant tax relief for seniors on their primary residence. The New York State Department of Taxation and Finance emphasizes the importance of this deadline for those seeking to reduce their school district taxes. Eligibility requires an income of $98,700 or less for the 2024-2025 school year, offering more benefits than the Basic STAR exemption.
The Enhanced STAR exemption is designed for senior citizens, increasing the tax benefit based on the first $84,000 of their home’s full value. This opportunity is exclusive to school district taxes in most areas, but in cities like Rochester, Syracuse, Buffalo, New York, and Yonkers, it also applies to city taxes. Over half a million New Yorkers benefited from this program last year, saving more than $815 million.
To apply, seniors must submit specific forms and proof of income to their local assessor by the March deadline. Those already receiving STAR credits as checks or direct deposits will be automatically upgraded if eligible. The Department of Taxation and Finance encourages those unsure about their eligibility or application process to contact their assessor for guidance.
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