Property Owners Have Until March to Confirm STAR Tax Exemption
If you haven’t re-registered for your basic star tax exemption, it turns out you have more time than we thought. Homeowners now have until March to affirm the school tax exemption.
For months now the State tax Department has been pushing property owners to re-register for the Basic STAR exemption by Dec. 31st. If homeowners missed thee deadline they were told they risked losing the exemption and would have to pay their full school tax bill.
Turns out those homeowners who miss the December deadline have until early March when local assessors will remove exemptions from unregistered properties.
The State Tax Department says for those that miss they December deadline, they will receive another notice in the mail advising them that they need to immediately register.
In order to re-register property owners must supply their social security number, if their married the must provide their spouses number as well. The measure is intended to prevent property owners from claiming more than one exemption.
The Basic STAR exemption is available to homeowners who have an income of less than $500,000. The average savings around $700 per year.
78% of property owners in Cortland County have re-registered for the exemption
Homeowners can call 518-457-2036 to re-register for Basic STAR or visit www.tax.ny.gov