Letter from attorney to opposing counsel requesting documentation concerning homestead exemption for change of venue motion.
Homestead Act Tax Credit For Seniors In Bronx
Category:
State:
Multi-State
County:
Bronx
Control #:
US-0032LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
To apply for the Enhanced STAR exemption, submit this application and Form RP-425-E, Application for the Enhanced STAR Exemption to your assessor. You must also provide proof of income as described on the above forms.
Enhanced STAR is for homeowners 65 and older whose total household income for all owners and residents spouses is $98,700 or less. The benefit is estimated to be a $650 tax reduction.
You must own the property and have an equity interest in it. This includes houses, condominiums, co-ops, and mobile homes. Your home equity must fall within the exemption limits for your county: $179,950 for the counties of Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk, Rockland, Westchester, and Putnam.
Seniors will receive at least a $50,000 exemption from the full value of their property. The “enhanced” STAR exemption will provide an average school property tax reduction of at least 45 percent annually for seniors living in median-priced homes.
To apply. Visit .tax.ny or call (518) 457-2036. (If you currently receive STAR, you can apply for E-STAR with the Department of Finance: .nyc/star.)
New York State sets the rates for the Senior Citizen Homeowners' Exemption (SCHE) and the Disabled Homeowners' Exemption (DHE). SCHE and DHE provide an estimated reduction of 5 to 50% of an eligible property's assessed value. The percentage depends on the combined annual income of all owners and their spouses.
To qualify for an exemption that begins on July 1, you must be 65 or older by the following December 31. If you co-own your property with a spouse or sibling, only one of you needs to be 65 or older. For other co-ownerships such as a parent and children, all owners must be 65 or older.
Enhanced STAR provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes: $98,700 or less for the 2024-2025 school year.
