The New York State Department of Taxation and Finance today reminded seniors that, for most localities, the deadline to apply for greater property tax savings through the Enhanced STAR property tax exemption is March 1. Basic STAR exemption recipients who turn 65 this year and meet the eligibility requirements should apply to their assessor for the Enhanced STAR exemption.
To be eligible to upgrade from the Basic STAR property tax exemption to the 2024 Enhanced STAR property tax exemption:
- the property must be the primary residence of at least one age-eligible owner;
- all owners of the property must be at least age 65 as of December of the year of the exemption, except where the property is jointly owned by only a married couple or only siblings, in which case only one owner needs to meet the age requirement; and
- the combined incomes of all owners (residents and non-residents)—and any owner’s spouse who resides at the property—must have been equal to or below $98,700 in 2022.
“It is important for seniors who become eligible this year to apply by the deadline to receive additional savings,” said New York State Department of Taxation and Finance Acting Commissioner Amanda Hiller. ”To help ensure that seniors don’t miss out, we encourage seniors to review their Enhanced STAR eligibility for this valuable benefit.”
In 2023, 562,000 seniors received more than $815 million in savings from the Enhanced STAR property tax exemption.
How to apply
Seniors who are eligible to upgrade to the Enhanced STAR exemption should apply to their assessor’s office by the application due date, which is March 1 in most towns and some cities. Seniors should verify their exact due date with their local assessor.
To apply, seniors must provide the following to the assessor:
- Form RP-425-IVP, Supplement to Form RP-425-E, and
- Form RP-425-E, Application for Enhanced STAR Exemption.
In addition, seniors must provide proof of income: 2022 New York State or federal income tax forms. (If the senior wasn’t required to file an income tax return, the assessor can guide them on how to provide proof of income.)
Seniors receiving a STAR credit do not need to take action
Seniors who receive the STAR credit as a check or direct deposit from New York State instead of the STAR exemption don’t need to apply or take any other action. The Tax Department will automatically upgrade them to Enhanced STAR if they qualify.
Eligible homeowners who are enrolled in the STAR program receive their benefits each year in one of two ways:
- STAR credit. Homeowners registered for the STAR credit receive their STAR benefit directly from the New York State Department of Taxation and Finance via check or direct deposit.
- STAR exemption. Homeowners who have been receiving the STAR exemption since 2015 can continue to receive it for the same primary residence as a reduction on their school property tax bill.
