Felder: ‘Don’t Lose Your Tax Break’

BROOKLYN -

State Sen. Simcha Felder is reminding homeowners who currently receive a Basic STAR exemption to register with the New York State Department of Taxation and Finance in order to continue receiving the exemption in future years. Registration began on Aug. 19 and will continue through the end of the year.

The School Tax Relief (STAR) Program provides an exemption from school taxes for owner-occupied, primary residences where the combined 2012 income of the owners and spouses who reside on the property does not exceed $500,000. Senior citizens with combined 2012 incomes that do not exceed $81,900 may qualify for a larger, Enhanced exemption.

“Last year,” said Felder, a Brooklyn Democrat, “homeowners saved approximately $700 with Basic STAR and $1,290 with the Enhanced exemption.”

The Tax Department will mail instructions to all homeowners who currently receive the Basic STAR exemption. Homeowners do not need to re-register each year.