You Could Be At Risk For Losing Your STAR Exemption

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For nearly 15 years, many homeowners across New York have relied on what's called STAR exemptions, which exempt the first $30,000 of the full value of a home from school property tax for many homeowners.

"It's certainly a sizeable amount. It's nothing to just throw it away," said Watertown City Assessor Brian Phelps.

However, this year the exemption is different.

All basic STAR recipients need to register again with the state.

If you don't, Phelps says by the time his office gets word, it'll be too late.

"All we're going to get is a final list, at which time I'm obligated to remove all those people from the exemptions," said Phelps.

So to make sure everyone is registered, the state is encouraging them to do it all on the STAR exemption website

"The information requested focuses on the address of the property, the names of the owners of the property and their Social Security numbers, said New York Tax Commissioner Thomas Mattox.

The website provides a step-by-step guide for the one-time registration, which Phelps hopes all basic STAR recipients will take advantage of.

"It would certainly be a shame if people didn't register and get signed onto this so that I don't have to remove those exemptions next year," said Phelps.

The registration doesn't apply to those over 65 who receive the enhanced STAR exemption.

It's only required for those with the basic exemption.

They will have until December 31 to register.

Tuesday, October 21, 2014
, Watertown, NY

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