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.
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