Senator John Flanagan (2nd Senate District) proudly voted in favor of a historic property tax relief legislation that enacts a cap on the growth of local property taxes. The bill will provide taxpayers of Long Island with the property tax relief they need by limiting the growth of school and local taxes to less than two percent or the Consumer Price Index (CPI), whichever is lower.
In an effort to provide tax relief to Long Island homeowners, Senator John Flanagan (2nd Senate District) recently voted to restore the STAR Rebate Check program. The program, which was eliminated in 2009 when the Senate Democrats were in the majority in the Senate, would provide $202 million in property tax relief to senior citizens in the 2012-13 school year and $1.2 billion in property tax relief to families across the state starting in the 2013-14 school year.
Senator Flanagan was a leader in the fight to create the original STAR Rebate Check program in 2006 and has been fighting to get it restored since it was eliminated during budget negotiations in 2009.
Senator John Flanagan (2nd Senate District) is calling on congressional leaders to reject the “Double-Tax Plan” included in a federal budget proposal that would end the longstanding policy allowing taxpayers to deduct their state and local tax liability, including property taxes, from their federal taxes. If approved by Congress and signed into law, this change would cost the average Long Island homeowner approximately $4,500 a year.
Important information if you receive the Basic STAR property tax savings from New York State
All homeowners who are enrolled in the Basic STAR program must re-register with the New York State Department of Taxation and Finance (NYSDTF) by the end of this year in order to continue getting the STAR exemption for 2014 and beyond. This re-registration is part of a new effort to eliminate fraud and protect property taxpayers.
The New York State School Tax Relief Program (STAR) provides New York homeowners with partial exemptions from school property taxes. If you earn less than $500,000 and own and live in your home, you are probably eligible for the STAR exemption.
There are two types of STAR property tax exemptions:
Basic STAR is available for owner-occupied, primary residences where the owners’ total income is less than $500,000. Basic STAR works by exempting the first $30,000 of the full value of a home from school taxes.