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Old 08-31-2010, 02:13 PM
 
Location: Rye Brook
178 posts, read 631,447 times
Reputation: 58

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Hi,

The difference in the amount of the star deduction is based on the different assessed values.

The assessment is the number used to figure out the taxes and in Westchester usually is not the value of the home.

People get confused between assessed value and appraised value.

So one town a house might be valued (appraised) at $500,000
and the assessment is $28,000.

Another town a home valued at th same $500,000. might be assessed at
$390,000.

So when figuring the STAR exemption you have to look at the particular town.

Most of the STAR deductions reduce the taxes between $1,000 and $2,000 a year.


All the best!

Kevin O'Shea
Homes of Westchester
914.262.1931
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