ALBANY – Governor Andrew Cuomo announced that, after just six weeks, more than one million homeowners have registered with New York State for their Basic STAR exemptions. Basic STAR saves New York homeowners $700 every year on average, but is only available on the primary residence of owners with incomes below $500,000.
According to the Governor’s office, a study by the Department of Taxation and Finance last year found that thousands of individuals with multiple properties were receiving more than one STAR exemption. The new registration will ensure that homeowners only receive one STAR exemption for their primary residence.
The registration deadline is December 31, 2013. Anyone who has yet to register can still do so on the Tax Department’s website at www.tax.ny.gov.
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