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Old 03-13-2007, 10:31 PM
 
Location: nc
12 posts, read 55,600 times
Reputation: 14

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Just looking at real estate and noticed many sites say STAR exemption to be considered in taxes ...what is that?

thanks aly
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Old 03-15-2007, 01:16 PM
 
Location: westchester, ny
86 posts, read 339,444 times
Reputation: 50
It's a school tax credit on your taxes that the state implemented about 10 years ago. Everybody who pays property taxes is entitled to it (each property needs to apply once, and the credit is transferred from owner to owner). However, it is not GUARANTEED to be continued from year to year (though it would be political suicide for any lawmakers to discontinue it). I know around here (Westchester) it takes about $1500 per year off our annual taxes.
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