Hochul: New York offers STAR tax relief
ALBANY — Gov. Kathy Hochul Thursday highlighted New York state’s ongoing efforts to deliver $2.3 billion in tax relief to nearly three million New Yorkers under the state’s School Tax Relief program.
More than two million New Yorkers have already received their STAR tax relief, and nearly one million will receive their benefits in the coming weeks.
“Back-to-school season is also tax relief season for millions of New Yorkers,” Hochul said in a release. “From tax credits to child care assistance to summer food benefits, we’re continuing to put more money back in the pockets of working New Yorkers to address the cost of living and help families across our state.”
The STAR program provides property tax relief to eligible New York state homeowners and senior citizens throughout the state. The dollar amount of each STAR benefit depends on the resident’s income level and other factors.
For homeowners with incomes of $500,000 or less, STAR benefits are typically worth several hundred dollars. For seniors age 65 and older with incomes below $98,700, STAR benefits can exceed $1,000.
New Yorkers receive this benefit in one of two ways: as a STAR credit issued via check or direct deposit to the resident, or as a STAR exemption that reduces their annual school tax bill. Once a homeowner enrolls in the program, they do not need to take further action to continue receiving the credit or exemption. More information on the program can be found at https://www.tax.ny.gov/star.
More than two million New Yorkers have already received their STAR tax relief, and the remaining relief will be delivered to nearly one million additional New Yorkers in the coming weeks. STAR credit delivery is generally based on timelines to meet the school tax due date. While Sept. 30 is the most common school tax due date across the state, some parts of the state such as Long Island have later due dates this fall.
Hochul and the state’s Tax Department launched the first-ever STAR digital portal earlier this year. This new portal allows New Yorkers who receive STAR credits to sign up to get their credit sent via direct deposit, rather than a physical check in the mail.
All New Yorkers who receive STAR credits can continue to utilize the digital portal to sign up for direct deposit for next year’s payments.