In addition to the Tax Abatement and STAR Credit Program, eligible shareholders/unit owners can also apply for the following property tax exemptions, (i) Senior Citizens Homeowners Exemption, (ii) Disabled Homeowners Exemption, (iii) Veterans Exemption (iv) Clergy Exemption (v) Disabled Crime Victim/Good Samaritan Exemption. You can use the Homeowner Tax Benefits Application to apply for most of the property tax exemptions for your primary residence.

You may apply for these exemptions by completing forms found on the NYC DOF website under “Property Tax Benefits for Homeowners” (click the link which redirects you to the website). The qualifications to be eligible for these exemptions are indicated on the application. Your application must be must be submitted directly to the NYC DOF and postmarked on or before March 15th. If eligible, benefits will begin July 1st. Filing the appropriate applications with the Department of Finance to ensure receipt of the available abatements is the shareholder/unit owner’s responsibility. Midboro is not responsible for filing on the shareholder’s/unit owner’s behalf.

It’s important that residents are educated on the proper protocol in the event of a fire at their building. Please click NYC Fire Department Emergency Fire Safety & Evacuations Instructions to familiarize yourself as well as members of your family and household staff on these guidelines.

Check out Andrew Siff’s  report on “Why ‘zombie scaffolding’ stays up in NYC for years” . With commentary from Michael J. Wolfe, President of Midboro Management.

STAR is New York State’s School Tax Relief Program that includes a school property tax rebate program and a partial property tax exemption from school taxes. All New Yorkers who own and live in one, two, or three family homes, Condominium or Cooperative apartments are eligible for STAR credit on their primary residence. Owners are responsible for applying for this credit directly with the state of New York. If you have any questions regarding the process or your eligibility you may contact NYS DOF at 518-457-2036 or by email orpts.star@tax.ny.gov.

REVISED QUALIFICATIONS: If you currently receive the Basic STAR exemption (credit posted on your account) and your income is between $250,000 and $500,000, the program is changing. If eligible, you will now receive a check for the STAR credit instead of the reduction on your school tax bill. The DOF sent letters to Cooperative and Condominium owners directly explaining the new income restrictions and requested additional information, if applicable.

If your income is $250,000 or less and currently receive the STAR exemption, owners can choose to register for the STAR credit to be sent by a check. They may receive a greater benefit, and their savings will never be less than the STAR exemption benefit. The value of the STAR credit savings may increase by as much as 2% each year, but the value of the STAR exemption savings cannot increase. The deadline to receive the STAR credit by check is two weeks prior to June 20th.

Deadline: We recommend you register as soon as possible after you move into your home. Registrations will be accepted for three years from the income tax filing deadline for the year that the credit covers. For example, to claim the STAR credit for 2019, you must register by April 15, 2023. However, the sooner you register, the sooner you will receive your STAR check.

For more information regarding the STAR credit click here.