The New York STAR program is School Tax Assessment Relief, or, as is more commonly known througout the United States, "Homesteader Exemption" to reduce property taxes on a primary residence.
Here's the link for more info: http://www.tax.ny.gov/pit/property/star/eligibility.htm
If you are purchasing a home in New York keep in mind that the STAR exemption(s) is NOT transferrable to you at closing. You must apply for and be approved for your own STAR exemption once you have obtained title to the home.
There are various types of exemptions including those for Veterans, Senior Citizens, and Clergy, apart from the standard exemption provided to homeowners of a primary residence.
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1010 Northern Blvd. Suite 234
Great Neck NY 11021
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Beginning with 2011-12 school tax bills, the savings resulting from the Basic or Enhanced STAR exemptions were limited to a 2% increase over the prior year.
Two types of STAR exemptions:
â€¢available for owner-occupied, primary residences where the resident owners' and their spouses income is less than $500,000
â€¢exempts the first $30,000 of the full value of a home from school taxes
â€¢provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes
â€¢exempts the first $63,300 of the full value of a home from school taxes as of 2013-14 school tax bills (up from $62,200 in 2012-13)
STAR exemptions apply only to school district taxes. They don't apply to property taxes for other purposes, such as county, town or city (except in cities where city property taxes fund schools - Buffalo, New York City, Rochester, Syracuse and Yonkers).
Also see: School Property Tax Report Cards hosted by the New York State Education Department.
Hope this help you.. George