Important New York State Tax Deadline Is Approaching
Among the things that New York is famous for is our taxes. Whatever you can think of, you are all but assured there is a tax attached to it.
While we pay some exorbitant taxes in the Empire State, especially for our schools, officials from the New York State Department of Taxation and Finance give some New Yorkers an opportunity to get some of our taxes back in a rebate.
The New York State School Tax Relief (STAR) program gives certain homeowners in the Empire State a property tax payment refund if they meet a series of eligibility requirements.
There are two levels of the STAR Program that people can qualify for, there is Basic STAR and there is Enhanced STAR, and the STAR Program can potentially save you hundreds of dollars every year on your taxes.
To qualify for the Basic STAR program, you must own residential property in New York State, live in it as your primary residence, and earn less than $500,000 per year. You can qualify for the Enhanced STAR program if you own residential property in New York State, live in it as your primary residence, are age 65 or older, and earn less than 93,200 per year.
SEE ALSO: Tax Tips for New York Residents
If you wish to apply for the STAR Program this year, you need to hurry because the deadline to submit your registration is on March 1, 2023, for most communities in New York State.