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Several real estate tax exemptions are available to New York City and state homeowners but some have deadlines that are fast approaching.
Among the exemptions is the Senior Citizen Homeowners’ Exemption (SCHE), a property tax break for seniors who own one-, two- or three-family homes, condominiums or cooperative apartments. The SCHE and DHE (Disabled Homeowners’ Exemption) tax breaks are available to eligible homeowners with a combined annual income of $58,399 or less. SCHE is not granted automatically.
The veterans exemption. Applications must be submitted by March 15 for your exemption to begin on July 1 of the same year.
New York School Tax Relief Program (STAR). The STAR and Enhanced School Tax Relief (E-STAR) benefits offer property tax relief to eligible New York homeowners.
STAR and E-STAR can be issued as a credit by the State of New York, or, in some cases, as a tax exemption by the City of New York.
To be eligible for Basic STAR your income must be $250,000 or less. Properties that receive the 421a benefit are not eligible for the STAR exemption.
You must submit an exemption application, available at www.nyc.gov/exemptionforms, to the Department of Finance by March 15 for all the exemptions to begin on July 1 of the same year. For a paper application, call 311 or visit a DOF Business Center.
For more information about property tax exemptions, please visit www.nyc.gov/ownerexemption.
If you have made a reasonable effort to resolve a tax issue with the Department of Finance but feel that you have not received a satisfactory response, the Office of the Taxpayer Advocate can help. For assistance, visit www.nyc.gov/taxpayeradvocate and complete form DOF-911, "Request for Help from the Office of the Taxpayer Advocate."
You can reach the office by phone by dialing 311. (Outside NYC or for relay service, call 212-639-9675.)
The office’s address is NYC Office of the Taxpayer Advocate, 375 Pearl St., 26th Floor, New York, NY 10038
Mathew Joseph is a real estate tax consultant. He can be reached at 929-393-5773
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