OPINION: A STAR of a tax break
If you own a house, co-op or condominium in New York City, there’s something I want you to do right away: register for the STAR exemption.
In all likelihood, you’re probably already benefitting from STAR. More than 564,000 homeowners in New York City participate in what’s called “Basic STAR.” Last year, these homeowners received an average property tax break of $280 each. While it’s not a huge amount, it’s still money in your pocket.
But this year, the State is requiring everyone to register for STAR in order to receive the exemption. And I don’t want any homeowner in New York City to lose out.