Silly Question Alert: What is STAR??

DH & I aren't ready to start looking for houses yet, but hopefully we will start early in the new year.

For now, I've just been trying to learn as much as I can about the process and stalk MLSLI to find houses we might be interested in when the time is right.

Could one of you please explain STAR and how it works? What are the requirements for the tax deduction/rebate?

Thanks!!!

Re: Silly Question Alert: What is STAR??

STAR is a school tax relief that the homeowner receives if they apply for it. STAR deductions vary from town to town also.

Basic STAR is what everyone under the age of 65 can get. Enhanced STAR is for Senior Citizens who make less than a certain amount of $$ each year, and they have to apply for Enhanced STAR each year.

Requirements in Nassau County are a copy of the deed and proof of address (driver's license, voter's regsitration card, etc).

Re: Silly Question Alert: What is STAR??

This might answer some questions you have

STAR

Re: Silly Question Alert: What is STAR??

It's the most confusing thing ever!

There are two parts - the exemption and the rebate...

The exemption lowers the amount of school tax you pay. This is available to everyone on their primary residence.

The rebate is an amount you receive back at the end of the year. Using 2007 as an example, you had to own the home prior to 3/1/07 and make less than $250k combined in 2005 to be entitled to the rebate. The rebate varies based on town, school district and amount of money earned in 2005).

ETA: There are different application deadlines based on county so it's best to contact your town assessors office when you do find a house you like.

Message edited 12/14/2007 8:56:37 AM.

Re: Silly Question Alert: What is STAR??

thanks for the info, i appreciate the help!