April 28th 2024.
Starting this summer, some of our fellow New York State residents will receive a little extra relief in their mailboxes. That's because the state is sending out checks averaging $1,407 as part of the STAR program. This will help homeowners with the cost of their school tax bills, which can be a significant burden for many families.
According to WYRK, the checks will be sent out in the next few months to registered STAR residents who meet the necessary criteria. Most people should expect to receive their checks by September 11, if not earlier. It's important to note that the STAR program has two levels, with last year's average checks being $778 for the Basic STAR level and $1,407 for Enhanced STAR recipients.
If you're already registered for STAR, you can expect to automatically receive a check or have a tax credit applied to your account. However, for those who are not yet registered, it's important to enroll by phone or online to ensure you receive your check. Fortunately, all eligible homeowners with an income below $250,000 will qualify for the Basic STAR exemption. And for seniors over the age of 65, the Enhanced STAR exemption is available as long as the home is their primary residence.
To be eligible for the Enhanced STAR exemption, homeowners must meet a few criteria. First, the home must be owned and used as the primary residence. Additionally, the homeowner must be 65 years of age or older by December 31, 2024. For jointly owned property, only one spouse or sibling needs to meet this age requirement. Finally, the homeowner's income must be $93,200 or less, which includes the combined incomes of all owners and any owner's spouse who resides at the property. To determine income eligibility, homeowners can refer to their 2023 state or federal income tax return.
When filing for the Enhanced STAR exemption, homeowners will need to fill out a few forms, including their federal Form 1040 and New York State Form IT-201. It's important to note that for STAR purposes, income refers to the federal adjusted gross income minus the taxable amount of total distributions from IRAs. It may seem like a lot of information to keep track of, but it's worth it for the potential savings on your school tax bill.
If you're wondering when you can expect to receive your STAR check, you can easily check your district for more information. And don't forget, this relief is coming soon, so keep an eye out for that check in your mailbox!
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