RE-REGISTER FOR STAR

As noted on the NYS Dept. Taxation & Finance website:

 

"Two types of STAR exemptions:

 

Basic STAR

• available for owner-occupied, primary residences where the resident owners' and their spouses income is less than $500,000
• exempts the first $30,000 of the full value of a home from school taxes

Enhanced STAR

• provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes
• exempts the first $63,300 of the full value of a home from school taxes as of 2013-14 school tax bills (up from $62,200 in 2012-13)"

"New legislation requires all homeowners receiving a Basic STAR exemption to register with the New York State Tax Department in order to receive the exemption in 2014 and subsequent years.

• Homeowners will not have to register in order to receive their 2013 STAR exemptions.
• Homeowners will not have to re-register every year. Based on the information provided in the registration process, the Tax Department will monitor homeowners' eligibility in future years."

For more information, see this link:

http://www.tax.ny.gov/pit/property/star13/default.htm

FOR NASSAU COUNTY RESIDENTIAL SALES

Here is a useful tool for counsel representing home buyers in Nassau County. Nassau County now has a "School Tax" estimator - which will be a better tool than any representation Seller may make regarding the last tax bill:

Nassau County School Tax Estimator