STATEN ISLAND, N.Y. — Gov. Kathy Hofkal on Thursday touted New York state's efforts to provide $2.3 billion in tax relief to nearly 3 million state residents through the School Tax Relief (STAR) program.
Hawkle highlighted these ongoing efforts, noting that more than two million residents have already received tax cuts, with nearly one million more set to receive similar cuts in the coming weeks.
Of the grant funds, $167.3 million was allocated to help approximately 495,000 recipients in New York City.
The STAR program provides property tax relief to eligible homeowners and seniors throughout the state.
“Back-to-school season also means tax cuts for millions of New Yorkers,” Hoekl said. “From tax credits to child care assistance to summer food benefits, we continue to put more money back into working New Yorkers' pockets to ease the cost of living and help families across the state.”
To apply for STAR credits, you must be a homeowner who: According to the New York State Department of Taxation and Finance website:
- Housing, including farmhouses and prefabricated homes
- The “owner-occupied portion” of a condominium
- Condominium
- Coop Apartment
Ultimately, the exact deduction amount will depend on several factors, including the recipient's income. As we previously reported, the 2024 income requirement means that applicants cannot make more than $500,000. This figure, as the website details, “applies only to the combined income of the owner and the owner's spouse who resides in the property.”
Homeowners making less than $500,000 a year could see benefits “typically worth a few hundred dollars.”
Meanwhile, people aged 65 or older who earn less than $98,700 can receive STAR benefits of more than $1,000.
“As lawmakers, we must do all we can to ensure New York State is an affordable state where families can grow and thrive, and that includes ensuring hardworking New Yorkers have access to child care and can feed their children,” said State Senator Jessica Scarsella Spanton (D-North Shore/Southern Brooklyn). “As a parent of two children, I know firsthand how important it is to put money back in working parents' pockets, and I'm so pleased to see these efforts coming together to prioritize the economic well-being of New York families.”
Residents can receive these benefits in the form of either STAR credits issued by check or direct deposit, or a STAR waiver that reduces their annual school tax bill. Once a homeowner enrolls in the program, no further action is required to continue receiving the waiver or credit.
For more information about the STAR program, click here.
