Albany, NY: This year’s budget agreement between Governour Andrew Cuomo and state lawmakers included a change to the STAR (NY School Tax Relief) program for certain new homeowners. The change will ONLY apply to homeowners that purchased a home in New York on or after March 1, 2015. These new homeowners will now receive a STAR rebate check in September rather than a STAR credit against their school tax bill. On or about May 1, property owners subject to this new program will receive a letter from their local assessor outlining this new process and how to apply to receive their rebate check. There is no change to the amount of the STAR benefit that homeowners will receive. STAR reduces the home assessment by $30,000 for school taxes.
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