Does anyone know how the STAR program works?
I bought my house in 2008, filed for basic STAR and received a rebate check in early 2009. I heard that the STAR rebate was cancelled for 2009 so I wasn't surpirised when I didn't get a check in 2010. Then today, an article that I was reading referenced the STAR exemption (not rebate). I called my local Assessor and they said the exemption portion of STAR never went away, that I never enrolled in it, and that I can enroll in April but my taxes won't be lowered until 2012.
I'm slowly getting over the fact that I've overpayed 4 years worth of taxes. However, its clear that I obviously don't understand how this program works.
Does anyone understand this thing?
Am I correct in thinking that I'll enroll in the STAR exemption in April, my tax bill in 2012 will be lower (I make under the $500k ceiling), and my enrollment in the program will stay in place going forward so I get the exemption every year without any additional work on my part?
Did the exemption replace the rebate, or were they both in place at the same time giving a "double discount"?