Star Program- Have you Applied?

Published Thursday, October 25, 2018

Have you applied for the STAR Program?

Did you buy a new home? Now is the time to apply for the School Tax Relief Credit (STAR). If you haven’t applied before, you can register now, and save money! It’s easy to do and takes only a few minutes.

Below are some points to keep in mind:

  • THE CREDIT YOU RECEIVE IS BASED ON $30,000 LESS THAN ASSESSED VALUE OF HOME.
  • YOU CAN EITHER APPLY ON LINE OR CALL NYS WEBSITE AT 518-457-2036.
  • ELIGIBLE TYPES OF PROPERTY THAT YOU CAN APPLY FOR STAR ARE HOUSES, CONDOS, COOPS, OWNER OCCUPIED MULTI FAMILY.
  • THERE IS NO AGE RESTRICTION FOR BASIC STAR. THE ONLY REQUIREMENTS ARE OWNING YOUR OWN HOME AND IT MUST BE YOUR PRIMARY RESIDENCE.  YOUR INCOME MUST BE $500,000 OR LESS. 
  • THERE IS STAR FOR SENIORS AS WELL TO HELP THEM OUT! REQUIREMENTS ARE YOU MUST BE 65 OR OLDER AND HAVE INCOME OF $86,000 OR LESS.  IF JOINTLY OWNED PROPERTY ONLY 1 SPOUSE MUST BE 65 OR OLDER TO QUALIFY.

Visit https://www.tax.ny.gov/pit/property/star/default.htm for more information. Looking to buy or sell a home? Check out our local listings or find a REALTOR® at www.cortlandmls.com.