Over half a million residents of Long Island have submitted applications for a rebate through the state’s school tax relief initiative, which is set to kick off around mid-October.
Approximately $698.4 million in STAR relief will be distributed to 582,000 Long Island homeowners, starting this fall when school tax payments cease, as noted by the state Department of Taxation.
In total, more than 2.8 million New Yorkers are anticipated to benefit from a statewide tax reduction amounting to $2.2 billion. Some residents, particularly in New York City, have already begun to receive their rebates via mail or direct deposit.
What is the STAR Program?
STAR provides tax reductions for eligible homeowners, as long as the combined income of the owner and spouse is below $500,000. Homeowners can opt to receive STAR rebates either through checks or direct deposits. However, only those who registered before 2015 are eligible for the exemption that lowers their school tax bill; the program has not accepted new applicants since that year.
Who is eligible?
Tax relief is available for farmers who designate a condominium, cooperative apartment, manufactured home, or any home as their primary residence. Again, the income threshold of $500,000 applies for the property owner and their spouse in order to qualify for the STAR Credit.
What kinds of remedies are available?
Owners whose properties are listed as primary residences can receive basic or enhanced STAR credits in the form of checks or direct deposits. Enhanced STAR Credit is exclusively available to those aged 65 and older.
When will Long Islanders receive STAR credit in checks or direct deposits?
Property owners in Glen Cove will start to see benefits in mid-August, while those in other parts of Nassau County will begin to receive their benefits in mid-October, as stated by the Department of Tax and Treasury. Homeowners in Suffolk County are expected to start receiving rebates in December.
How much can homeowners expect to earn?
“Most homeowners qualifying for the STAR Credit should expect checks ranging from $350 to $600. Seniors eligible for the enhanced STAR Credit might see checks varying from $700 to $1,500,” according to a statement from the office of Governor Kathy Hochul.
Why is the program so significant?
Nassau and Suffolk counties are among 16 in the nation grappling with high property taxes. As reported by the Washington, D.C.-based Tax Foundation, average bills can exceed $10,000.
Experts highlight that property taxes represent a critical issue for Long Island residents.
“The STAR Program is essential for property tax relief impacting everyone in Nassau and Suffolk County, where we face some of the highest taxes in the country,” remarked Richard Guardino, executive director of the Long Island Regional Planning Council. He pointed out that tax rates differ by school district but generally reflect about 70% to 60% of what residents are paying in property taxes.
