STAR PROGRAM – Changes in the State Budget
for both Basic and Enhanced STAR Exemptions
2019-2020 Enacted NYS State Budget includes several provisions
impacting the STAR Program.
To encourage property owners to register for the STAR credit ‘check’ in the Governor’s Budget:
- If you make over $250,000 you may be receiving an Exemption DENIAL letter from NYS Department of Taxation & Finance.
- If you choose to keep your STAR ‘exemption’ deduction on your school tax bill, you MAY not receive up to a 2% increase from the previous year.
However, STAR credits (also known as the STAR credit check program) can continue to increase up to 2% annually (Basic & Enhanced) and the Basic income limit for the STAR credit remains at $500,000. You will receive a check directly from NYS Taxation & Finance Dept. every year you qualify.
If you want to switch from the STAR exemption to the STAR credit (check), there are two steps that you need to take:
- Follow the instructions for STAR exemption removal and renunciation, located on our Assessor’s form page on our website coeymans.org.
- Register with NYS Taxation & Finance for the STAR credit. You can register by visiting www.tax.ny.gov. or call 518-457-2036.
PLEASE NOTE THAT THE RENUNCIATION OF THE STAR EXEMPTION IS IRREVOCABLE. THIS INCLUDES PROPERTY OWNERS WHO RENOUNCE THEIR STAR EXEMPTION TO SWITCH TO THE STAR CREDIT; THEY CANNOT SWITCH BACK TO THE EXEMPTION AT A LATER TIME.
For Albany County send the renunciation form # RP-496 to:
Maggie Alix, Director
Albany County Real Property Services
112 State Street, Room 1340
Albany, New York 12207
Your application must be approved by the county director before you can register with NYSDIF for the STAR credit.