The New York State STAR Program Changes To Benefit First Time Home Buyers

Written by Christopher Pagli Posted On Tuesday, 14 June 2016 13:24
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The New York State STAR Program Changes To Benefit First Time Home Buyers
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Up until now every homeowner that qualified for the STAR program (School Tax Relief) applied only once and at the time of their purchase.  Changes have been made to the STAR program and only affects first time homebuyers in New York State.  The STAR program exempts the first $30,000 of a homes assessed value and appears as a reduction in the school tax portion of your bill.

Now, first time home buyers will apply and receive an actual check in the mail.  The reduction varies from town to town in Westchester County and changes each year.  Click here to see the 2016 amounts.

To apply for the rebate please visit www.tax.ny.gov/star , you must apply no later then July 1 in order to receive a check by September.  Any applications received after July 1 will receive at a later, unspecified date.  Check with the State for details.

 

Basic STAR  - an applicant must make under $500,000 per year and use the home as their primary residence.

Enhanced STAR - an applicant must be at least 65 years old unless the owners are spouses or siblings.  In that case at least one of them has to be at least 65 years old.  The income limit changes for inflation on a yearly basis.

2016 income limit - $84,550

2017 income limit - $86,000

 

The STAR program was created in 1997 by Gov. Pataki to help alleviate some of the school tax burden homeowners face.  Since the majority of your property taxes go to the schools it makes sense to apply the reduction to that portion.  The difference is made up by the state of New York and is considered to be a form of aid.  

 

Please feel free to contact me, Christopher Pagli directly on 914.406.9023 or email This email address is being protected from spambots. You need JavaScript enabled to view it. to discuss the STAR program and any other home buying concerns.  

 

Click here to search for Westchester County real estate.

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Christopher Pagli

Welcome!  You are about to meet an agent that specializes in personalized service for first time and repeat Westchester County NY and Greater Portland Maine homebuyers and sellers.  

My background includes 20 years of developing and implementing effective marketing plans through online social media, blogging, and media contributions.  Most recently I was hired by Cineflix Media as a real estate consultant for “Buying & Selling” with the Property Brothers Seasons 3 & 4 on HGTV.

The process of buying or selling a home can be frustrating.  Our initial consultation will focus on getting to know each other, your needs, wants, and lifestyle.  As your client advocate I’ll take the time to sit with you.  We will discuss the overall real estate buying and selling process, current market conditions, absorption rate, and buyer/seller thought process, including where and how they search.  

You will have complete control of the process. As your agent I will simply offer my knowledge, expertise and comprehensive marketing tools to accomplish our goal of buying or selling your home

Buying and selling a home is a major turning point and huge investment. Please remember that you don’t have to do it alone. By engaging my real estate services, you are teaming up with an agent that truly has your best interest in mind.

You will have clear, prompt communication every step of the way – I stay open until you close.

 

 

 

http://www.WestchesterCountyRealEstateMarket.com Email Christopher Pagli about this article

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