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I tried doing a search on the forums as well as on google and couldn't find what I was looking for, so if this has already been discussed, my apologies.
I'm aware that they have taken away rebate checks for STAR, however, someone (a mortgage broker) just mentioned to me that more than likely (he said almost definitely) Basic (not advanced) STAR is going away. Therefore the 100 dollars, etc....per month that I would be saving when I move into my new home, would no longer be accessible.
Is this just talk, or is this a very likely scenario that the STAR program (not referring to rebate checks), is going away?
Does anyone have any information or insight into this? I should mention that I'm in Suffolk County and I'm purchasing a new home (I currently have STAR).
Thank you!
I haven't heard anything specific, but I know they (the gov't) have been discussing removal of the STAR program. The gov't is always threatening to take back whatever they give you. I wouldn't plan on counting on it, and if you do get it, consider it a plus and bank away the extra money in savings or use it against the principle in your loan.
Also, I'm pretty sure the first year you are in your home, you pay the actual taxes while your STAR application (which you'll need to send in ASAP) is reviewed. It won't be applied until the next tax bill.
Thanks lialleycat... I thought that because we currently have STAR and the owners that are there also have STAR, that we could continue paying it under STAR while the application goes through (that's what happened with our condo, but I'm not sure how common that is).
Yes, I agree - I will definitely not count on it and just consider it a bonus if I do get it....but I'm just curious how many other people heard this and how serious of a "threat" it really is... I can't believe they'd really do that considering how many people actually rely on that.
I'm not sure STAR travels from house to house. I know mine didn't. Unless there was some special paperwork I was supposed to fill out that I didn't - which is entirely possible. It's hard enough to figure out which exemptions you qualify for.
Personally, I wish they'd scrap the whole STAR program and re-do the taxes so that basically everyone has the bill they do now without the annoying paperwork. If just about everyone qualifies for basic star - they why don't they just apply it across the board? The more complex the system is, the more people hired to administer it, the more our taxes are going up anyway. Of course I know that's a pipe dream and my taxes will continue to go up at least 500/yr no matter what.
I tried doing a search on the forums as well as on google and couldn't find what I was looking for, so if this has already been discussed, my apologies.
I'm aware that they have taken away rebate checks for STAR, however, someone (a mortgage broker) just mentioned to me that more than likely (he said almost definitely) Basic (not advanced) STAR is going away. Therefore the 100 dollars, etc....per month that I would be saving when I move into my new home, would no longer be accessible.
Is this just talk, or is this a very likely scenario that the STAR program (not referring to rebate checks), is going away?
Does anyone have any information or insight into this? I should mention that I'm in Suffolk County and I'm purchasing a new home (I currently have STAR).
Thank you!
I have heard this rumor myself, but it has not been substantiated as far as I know. I certainly hope this is not the case.
As for purchasing a home, very often the former homeowners' STAR will stay in effect until the paperwork is filed and the town/county catches up. So hopefully the new homeowner will only have to pay the taxes without STAR for a short time, until their new request is processed.
It is my understanding STAR is owner specific, not house specific. An elderly person gets a different rating than a young married couple, for example.
Apply immediately after buying house and see what you get.
No: The state is keeping the basic & enhanced STAR program, but it is eliminating the Middle Class STAR program. The difference is that basic/enhanced STAR reduces a homeowner’s assessment for calculating school taxes. The Middle Class STAR program sent a check to homeowners who have Basic STAR. The rebate amount was based on one’s income and age and averaged up to $450 for senior citizens. State leaders eliminated the Middle Class STAR program, the state’s largest property tax rebate program, to help close a $17.7 billion budget deficit.
No: The state is keeping the basic & enhanced STAR program, but it is eliminating the Middle Class STAR program. The difference is that basic/enhanced STAR reduces a homeowner’s assessment for calculating school taxes. The Middle Class STAR program sent a check to homeowners who have Basic STAR. The rebate amount was based on one’s income and age and averaged up to $450 for senior citizens. State leaders eliminated the Middle Class STAR program, the state’s largest property tax rebate program, to help close a $17.7 billion budget deficit.
Thanks for all the replies! Dawn - that is good to know and that is what I had heard (the rebate checks were being removed), but then this mortgage broker told me that even Basic STAR is going away. I'm fine with applying and having to pay regular taxes for awhile, but it would be nice to know you can count on BASIC star at some point and that it's not going away.
I just wasn't sure if I was missing this "announcement" plastered all over....or if my broker is just being extra cautious...
Thanks again everyone. I'll keep my fingers crossed.
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