As the STAR Tax Rebate approaches, local leaders are reminding the public to register before it's too late. YNN's Elyse Mickalonis reports.
BINGHAMTON, N.Y. -- Time is almost up for taxpayers to register with the New York State Tax Department for STAR.
The $3.5 billion per year state program gives taxpayers an average annual credit of $700 on their school tax bill. Earlier this year, legislation went into effect requiring all homeowners receiving a Basic STAR exception to register with the New York State Tax Department.
After registering once, the taxpayer will not have to re-register every year. The deadline is December 31. However, taxpayers technically have until March to register.
"I say get it done by the end of the year. The state will send out a mailing to anyone who has not signed up for the tax credit reminding them to do so as quickly as possible. March first is when local assessors remove exemptions from unregistered properties," explained Debbie Preston, Broome County Executive.
You are eligible if your household makes less than $500,000. However, the tax break will only be applied to owner-occupied primary homes. STAR exemptions only apply to school district taxes.
Taxpayers should have received a card in the mail with a code. To submit the registration online, visit www.tax.ny.gov, or to register over the phone, call (518) 457-2036.