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STAR exemption recipients with incomes between $250,000 and $500,000
Beginning this year, individuals with incomes between $250,000 and $500,000 will no longer be eligible for the STAR exemption. However, they may be eligible for the STAR credit.
The Basic STAR exemption income limit is now $250,000. However, the income limit for the STAR credit continues to be $500,000.
Affected property owners will be automatically registering for the STAR credit using information they previously provided to us when registering for the STAR exemption or a STAR-related benefit.Letters to these property owners, most individuals will not need to take any action to switch to the STAR credit; however, some will receive letters asking them to provide us with additional information.
STAR exemption recipients with incomes of $250,000 or less
Property owners who are receiving the STAR exemption and whose income is $250,000 or less can choose to register for the STAR credit. Due to recent law changes, they may receive a greater benefit. The STAR exemption benefit can no longer increase, but the STAR credit benefit can continue to grow by up to 2% annually.
To simplify the process for switching to the STAR credit, new options were added to the beginning of the STAR credit registration online application. Homeowners are now guided to choose from three options:
If the property owner selects Make the Switch, their assessor directly will be notified automatically. The property owner will no longer need to contact their assessor or submit additional forms to withdraw their exemption.
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