Home Buying in New York>Question Details

CM1225, Home Buyer in 10541

Does New York State STAR (S.T.A.R) Program Benefit First Time Home Buyers Immediately Upon Closing?

Asked by CM1225, 10541 Wed Jul 9, 2008

I'm a bit confused by the NYS Basic STAR Program. NYS makes it clear that homeowners who already receive the STAR reduction at their primary residence must reapply when they buy and move into a new primary residence; the STAR does not automatically transfer.

But what about a first time home buyer? I'm about to close on a home in Patterson. The current owners receive a Basic STAR exemption of about $1100/yr. Will we, as the new owners, benefit from this (pro-rated) discount, or will we have to pay full taxes until we can apply for 2009? It doesn't seem fair that we would get nailed for taxes simply because we bought our house after the March 1st deadline to apply for the STAR program for 2008.

I haven't rec'd a definitive answer from the Town of Patterson, our lawyer, or our real estate agent. Can anyone help? Thanks in advance.

Chris

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Answers

8
Hi, Every town has their own deadline. If you miss the deadline the town may make an exception but otherwise you wait until the following year to get it.

Chris
1 vote Thank Flag Link Wed Sep 10, 2014
Chris,

Here is a link to an FAQ about the STAR program.

http://www.orps.state.ny.us/star/faq.htm

This will answer all of your questions, or give you contact information for any further questions.
1 vote Thank Flag Link Wed Jul 9, 2008
The STAR program would not take affect until the following September if closing now & must be applied for as per previous answers. However, if the previous owner had the STAR you are continuous as you have credited them for their advance paid taxes.
0 votes Thank Flag Link Wed Sep 10, 2014
When do you have to apply for the star program if I turn 65 I September?
0 votes Thank Flag Link Mon Sep 8, 2014
Upon closing you must take your deed to the local taxing authority (city, town, county) and submit your STAR application. You will need your photo ID. These folks are usually helpful and you'll be done in 10-15 minutes. If the prior owner had a STAR discount, this application will continue it. If not, then this will begin at the beginning of the community's upcoming tax year.
0 votes Thank Flag Link Wed Jul 9, 2008
The Star deduction depends on the owner's age and whether the home is a primary residence and is not attached to the home.
0 votes Thank Flag Link Wed Jul 9, 2008
You will need to apply for STAR even though it stays with the house. You will only need to do this one time if you are applying for Basic STAR. If the prior owner had the STAR reduction, it does not automatically switch off until the next tax year unless you apply.

It is unbelievable that so many people do not apply for this benefit when it is so easy.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Wed Jul 9, 2008
Chris,
When we purchased our co-op in 2004, the previous owner did not have the STAR exemption, so we had to apply for it, which could only be done once a year and we had just missed the deadline. That was a cute discovery. When talking to the town of Greenburgh, they told us that if the previous owner had STAR on the co-op, it would transfer with the co-op. So basically, when we were dealing with it, STAR exemption stuck with the house, not the people, so if the house is exempt, and you purchase it, it will still be on the house assuming you are eligible.

You should definitely be able to receive an answer from the Town of Patterson about this though and should definitely verify it.

Zack
0 votes Thank Flag Link Wed Jul 9, 2008
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