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OK maybe one of the resident RE experts can weigh in on my most likely stupid question here. I probably read too much but here goes:
Closed on my house last July. My understanding is the STAR exemption is non-transferable and the new owners must re-apply. We applied by the January deadline this year, but, our tax bill last October reflected the exemption...so I'm confused. At the time, we hadn't applied yet. Our 2010 - 2011 school tax bill reflected the exemption nonetheless.
There were some other exemptions the prior owner was entitled to on the General Tax bill. Those were pro-rated from our closing date and the adjustment was on this year's bill. Despite that, the entire exemption for this year was added in. I read that it can take two years for the exemptions to come off...so I read that to mean I will have to pay back the general tax exemption next year. I just recently got the letter from Nassau County saying I was approved for basic STAR...does this mean the exemption I got for 2010-11 will have to be repaid?
Closed on my house last July. My understanding is the STAR exemption is non-transferable and the new owners must re-apply. We applied by the January deadline this year, but, our tax bill last October reflected the exemption...so I'm confused. At the time, we hadn't applied yet. Our 2010 - 2011 school tax bill reflected the exemption nonetheless.
There were some other exemptions the prior owner was entitled to on the General Tax bill. Those were pro-rated from our closing date and the adjustment was on this year's bill. Despite that, the entire exemption for this year was added in. I read that it can take two years for the exemptions to come off...so I read that to mean I will have to pay back the general tax exemption next year. I just recently got the letter from Nassau County saying I was approved for basic STAR...does this mean the exemption I got for 2010-11 will have to be repaid?
TIA
Very likely; the County needs money and will look to get what's due them wherever and whenever possible.
In Nassau, assessments (including exemptions) are handled on a County-wide basis, while it is handled by the individual Towns in Suffolk County and the diligence varies from Town to Town.
Start putting some money aside, so you have it, just in case...
In Estate situations, I've seen Towns add pro-rated amounts to RE taxes going forward, to adjust for the exemptions given but which no longer apply as of the date of death of the deceased owner of record.
Very likely; the County needs money and will look to get what's due them wherever and whenever possible.
In Nassau, assessments (including exemptions) are handled on a County-wide basis, while it is handled by the individual Towns in Suffolk County and the diligence varies from Town to Town.
Start putting some money aside, so you have it, just in case...
Thanks Elke.
It is Oyster Bay if that makes a difference. If what you're saying is true, I was thinking we should have had the prior owner pay the tax for 10-11 at the closing table and reimbursed them. My lawyer should have done this...am I off base?
It is Oyster Bay if that makes a difference. If what you're saying is true, I was thinking we should have had the prior owner pay the tax for 10-11 at the closing table and reimbursed them. My lawyer should have done this...am I off base?
Oyster Bay is Nassau County = only one taxing authority; the actual STAR amount depends on the School District - it usually varies from one district to the next.
With regard to the pre-paying, that used to work years ago (been there, done that ), but since most everything is computerized now, chances are, the County would have caught on sooner or later and billed you for the pro-rated difference. This way you had use of the extra amount for a while.
Oyster Bay is Nassau County = only one taxing authority; the actual STAR amount depends on the School District - it usually varies from one district to the next.
With regard to the pre-paying, that used to work years ago (been there, done that ), but since most everything is computerized now, chances are, the County would have caught on sooner or later and billed you for the pro-rated difference. This way you had use of the extra amount for a while.
Fair enough...thanks for the info.
I guess I'll keep my fingers crossed until October...
Elke - you gave me some info on another thread, thanks for that. Since I'll be closing on my house this summer can you explain what you mean by this since the house I am buying is indeed buying from an estate!
"In Estate situations, I've seen Towns add pro-rated amounts to RE taxes going forward, to adjust for the exemptions given but which no longer apply as of the date of death of the deceased owner of record.
Anything I can do before closing? When and how do I apply for STAR?
Elke - you gave me some info on another thread, thanks for that. Since I'll be closing on my house this summer can you explain what you mean by this since the house I am buying is indeed buying from an estate!
"In Estate situations, I've seen Towns add pro-rated amounts to RE taxes going forward, to adjust for the exemptions given but which no longer apply as of the date of death of the deceased owner of record.
Anything I can do before closing? When and how do I apply for STAR?
You cannot apply for STAR until you actually own your new home (primary residence only!).
With regard to the estate situation, let me give you an example that I have seen:
Mother died last year (after STAR application deadline) and leaves house to son. Last year, mother paid $5,116.32 after enhanced STAR. This year's taxes for son are
The difference of $390.75 is for tax reduction to which son was not entitled; Town recaptures whenever they become aware of the situation. There was no STAR, because son didn't have the opportunity to apply before the deadline. If son weren't selling, he'd have applied this year, so he'd have STAR next year.
Sorry if this sounds convoluted but it's an actual case (it's a listing I'm working on).
What can you do before closing? Ask your RE agent to research the tax situation (or do it yourself); the Estate will want to be reimbursed for "unused" RE taxes.
does anyone know when the new tax rolls will be updated on the nassau county property website.
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), but since most everything is computerized now, chances are, the County would have caught on sooner or later and billed you for the pro-rated difference. This way you had use of the extra amount for a while.
