STAR Program 20th Anniversary!!!

The New York State School Tax Relief (STAR) Program is 20 years old!!!.  The program's intent is to lessen the crushing burden of school property taxes.  Has the program been successful?  Below is a bare bones summary of the program and how it impacts Saugerties taxpayers.  To learn more about STAR, click here.

School Year 2016-2017 - Saugerties School Tax Rate - 20.16782 per $1000 of assessed value

BASIC STAR – Assessed Home Value	School Taxes Before Basic STAR	After Basic STAR	SAVINGS	% Savings
$150,000	$3,025.17	$2,407.23	$617.94	20.4%
$200,000	$4,033.56	$3,415.62	$617.94	15.3%
$300,000	$6,050.35	$5,432.40	$617.95	10.2%
$500,000	$10,083.91	$9,465.97	$617.94	6.1%

Enchanced STAR  Assessed  Home Value	School Taxes Before Enhanced STAR	After Enhanced STAR	SAVINGS	% Savings
$150,000	$3,025.17	$1,676.15	$1,349.02	44.6%
$200,000	$4,033.56	$2,684.54	$1,349.02	33.4%
$300,000	$6,050.35	$4,701.32	$1,349.03	22.3%
$500,000	$10,083.91	$8,734.88	$1,349.02	13.4%

STAR PROGRAM BASICS

BASIC STAR

To qualify for Basic STAR, the property must be the primary residence & the owner(s) must have an income of less than $500,000.

To calculate the STAR benefit, a base amount (for Saugerties, this amount is $30,640) is deducted from the full assessed value of the home.  The reduced assessed value is then multiplied by the School Tax Rate to determine school taxes for a given year.  Per the chart above, Saugerties residents receiving Basic STAR saved $617.94 in school taxes this past year.  This amount is deducted directly from the property tax bill.  Because all qualifiers receive the same monetary benefit, those with lower assessed values received a greater percentage savings.

ENHANCED STAR

To qualify for Enhanced STAR, the property must be a primary residence and at least one owner must be 65 years of age and the combined income of the owner(s) must be less than $86,000.

To calculate the ENHANCED STAR benefit, a base amount ($66,890 in Saugerties) is deducted from the full assessed value of the home. This reduced assessed value is multiplied by the School Tax Rate to determine school taxes for a given year.  Saugerties residents receiving Enhanced STAR saved $1,349.02 in school taxes this past year.  This amount is deducted directly from the property tax bill.

NOTES

• The State reimburses School Districts for STAR benefits.
• If the primary residence was purchased after 8/1/15 - STAR savings will no longer be deducted directly from the property tax bill.  Program participants are sent a check from the State.  Qualifiers who purchased their homes before 8/1/15 will continue to have savings deducted from the property tax bill.
• The savings resulting from the Basic or Enhanced STAR benefits are limited to a 2% increase over the prior year.
• Basic STAR recipients do not need to reapply for the benefit each year unless they change their primary residence.
• Enhanced STAR recipients must reapply for the benefit each year unless they are enrolled in the Income Verification Program, 
• Receiving STAR benefits does not preclude homeowners from qualifying for other property tax exemptions.