March 1 is a very important deadline for thousands of property owners in New York State, specifically senior citizens.
It’s the deadline for the Enhanced STAR exemption and some important changes were implemented this year.
Under a new law, homeowners who are 65 and older who are re-applying or first-time applicants for the Enhanced STAR exemption, have until Friday to enroll in the state’s Income Verification Program or IVP in order to be eligible for the exemption.
Homeowners received three documents, including an additional form for IVP enrollment form that you must fill out in order to get the exemption.
The Enhanced STAR program allows property owners 65 and older with an income of $86,300 or less, to have some relief from school property taxes.
“We’ll have you fill out an additional form, that form will require your SSN, we key that into a secure website with the Department of Taxation and Finance. Now, instead of getting credit off of your check for the Enhanced STAR Exemption you’re now going to get a check from New York State,” said Patrick Duffy, Assessor for the Town of Manlius.
It’s important to remember that the Enhanced STAR Exemption is separate from the Basic STAR Exemption, which applies to homeowners with a household income of up to $500,000.
While the deadline is typically March 1, it is important to check with your town assessor.