Get Form RP-425-IVP:1/07:School Tax Relief (STAR) Exemption

Q: How can I find out if I'm receiving the STAR credit or the STAR exemption? A: Because the STAR exemption is a reduction on your school tax bill, you can determine if you are receiving it by reviewing your school tax bill or contacting your assessor. See Property tax bill examples.

2023 final STAR credit and exemption savings amounts: New York City MunicipalitySchool districtEnhanced STAR creditNew York CityNew York City$702.00New York CityNew York City$714.00New York CityNew York City$710.00 Nov 6, 2023

You can use your STAR benefit to pay your school taxes. You can receive the STAR credit if you own your home and it's your primary residence and the combined income of the owners and the owners' spouses is $500,000 or less. STAR exemption: a reduction on your school tax bill.

Basic STAR is for homeowners whose total household income is $500,000 or less. The benefit is estimated to be a $293 tax reduction. Enhanced STAR is for homeowners 65 and older whose total household income for all owners and residents spouses is $93,200 or less. The benefit is estimated to be a $650 tax reduction.

If you are enrolled in E-STAR, your income eligibility will be verified automatically each year by the NYC Department of Finance (DOF) with the NYS Department of Taxation and Finance. You don't need to do anything.

Enhanced STAR provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes: $93,200 or less for the 2023-2024 school year. $98,700 or less for the 2024-2025 school year.

Q: How can I find out if I'm receiving the STAR credit or the STAR exemption? A: Because the STAR exemption is a reduction on your school tax bill, you can determine if you are receiving it by reviewing your school tax bill or contacting your assessor. See Property tax bill examples.

The STAR savings amount is the lesser of: The STAR exemption amount multiplied by the school tax rate (excluding any library levy portion) divided by 1000; or. The Maximum STAR exemption savings.