ROCHESTER, N.Y. (WROC) – The New York State Department of Taxation and Finance is reminding seniors that the deadline to apply for property tax savings through Enhanced STAR property tax exemption is March 1.
What is Enhanced STAR tax exemption, how is this different than Basic STAR tax exemption, and how may I qualify and apply?
Basic STAR exemption recipients who turn 65 this year and meet the eligibility requirements should apply through their assessor for the Enhanced STAR exemption.
To be eligible to upgrade from Basic STAR tax exemption to 2024 Enhanced STAR property tax exemption:
- The property must be the primary residence of at least one age-eligible owner
- All owners of property must be at least age 65 as of December this year, except when the property is jointly owned– only one recipient must meet the age requirement.
- The combined incomes of all owners whether residents or non-residents, and any owner’s spouse who resides at the property must have been equal to or below $98,000 in 2022.
In 2023, 562,000 seniors received more than $815 million in savings from the Enhanced STAR property tax exemption.
Seniors who are eligible to upgrade should apply to their assessor’s office by the due date, which is March 1 in most states and cities. Seniors are encouraged to verify their exact due date with their local assessor.
Applicants must provide the following to the assessor:
- Form RP -425-IVP
- Form RP-425-E, the Application for Enhanced STAR Exemption
Applicants must also provide proof of income for 2022.
Seniors who receive the STAR credit as a check or direct deposit from New York State instead of STAR exemption do not need to apply, as the Tax Department will automatically upgrade them to Enhanced STAR if they qualify.
For more information on the STAR program and eligibility, you can visit the STAR Resource Center and Star Eligibility page.
