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.
