New York State Senate Deputy Majority Leader Dean G. Skelos (R-Rockville Centre) today urged all homeowners who are not benefiting from the state’s School Tax Relief ("STAR") program to file an application by January 2, 2006.
"Through the STAR program, all homeowners can save money on their property taxes," said Senator Skelos. "Unfortunately, some people aren’t taking advantage of these savings and the filing deadline is less than a month away."
The STAR program provides homeowners with an exemption on the value of their home for purposes of calculating their school tax bill. The Basic STAR exemption is available to all homeowners, regardless of their age or income, while the Enhanced STAR exemption provides additional school tax relief to eligible seniors.
To qualify for Enhanced STAR, a senior (or their spouse) must turn 64 years of age on or before December 31, 2005 and have a household income of $66,050 or less. Each year, the Enhanced STAR income limit is increased by the Social Security cost-of-living adjustment to prevent eligible seniors from unfairly losing their Enhanced STAR savings.
Based upon the three-year average median home price in Nassau County ($383,500), Basic STAR recipients will receive a $68,200 property tax exemption and save $1,000 (18%) on their school taxes. Similarly, seniors who qualify for Enhanced STAR will benefit from a $113,660 exemption and save $1,760 (30%) on their school tax bills.
"The STAR program provides real savings to Nassau County homeowners," said Senator Skelos. "And to help alleviate the impact of rising home prices, the exemption for Nassau County homeowners has been raised by 33% during the last five years."
To receive the Enhanced STAR exemption, eligible seniors must file an application with the Nassau County Department of Assessment each year. After filing the first year, Enhanced STAR recipients may automatically renew their application by filing a separate form with the Nassau County Department of Assessment that allows the state to verify their income.
To receive the Basic STAR exemption, a homeowner must apply with the Nassau County Department of Assessment only once. For both Enhanced STAR and Basic STAR applications, please Nassau County call the Department of Assessment at 571-1500. All applications must be filed by January 2, 2006.