Oyster Bay Town Receiver of Taxes Jeff Pravato today announced that residents may apply for New York State property tax exemptions from now through January 2, 2023. Homeowners wishing to receive exemptions on their 2023-2024 School taxes and 2024 General taxes must file with the Nassau County Department of Assessment or New York State prior to the January 2nd deadline.
“I want to make sure that every resident who is eligible, whether they’re a senior citizen, veteran, new homeowner, volunteer firefighter/EMT, person with a disability, or person renovating/improving their home, get the opportunity to take advantage of the available exemptions,” Receiver Pravato stated. “There are many exemptions available to qualified residents and homeowners, so I urge those interested to contact the Nassau County Department of Assessment for further assistance parsing through the matter.”
Exemptions, resulting in property tax savings, are available to qualified residents for the following categories:
School Tax Relief Program (STAR)– Residents may receive only one of the following:
- STAR Credit- the STAR Program has been changed by New York State. New recipients, and current recipients whose annual income is between $250,000 and $500,000, will be issued a check directly from New York State instead of receiving a school property tax exemption. The amount of the benefit will be the same. You cannot receive both the credit and the exemption. Register with New York State by telephone at (518) 457-2036 or online at tax.ny.gov/pit/property/star/default.htm.
- Basic STAR Property Tax Exemption- this program provides an exemption from school property taxes for owner-occupied, primary residences with an annual household income of less than $250,000. Current Basic Star Exemption recipients will keep their exemption as long as they continue to own their current home.
- Enhanced STAR Property Tax Exemption/Credit- this exemption is available to senior citizen homeowners who are 65 years of age or older during the year in which the exemption takes effect, and whose annual income does not exceed $93,200. Senior citizens whose annual income exceeds $93,200 will still be eligible for the Basic STAR Exemption/Credit. Current Enhanced Star Exemption recipients will keep their exemption as long as they continue to own their current home. Recipients must enroll in the Income Verification Program.
- Senior Citizen exemption provides a tax savings for individuals over the age of 65, whose income is less than $58,399. To participate and receive this tax savings (between 5% and up to 50% reduction on certain county, town and school district property taxes) specific qualification criteria must be met.
- Veterans Exemptions are for those individuals who rendered service to our country. The eligibility to receive this exemption and amount to be exempted depends upon the time, duration and type of service, along with other criteria.
- Cold War Veterans Exemption is for veterans who served during the Cold War period. The Law also provides an additional exemption to disabled veterans.
- Gold Star Parent Exemption is available for the parent of a child who died in the line of duty while serving in the United States Armed Forces during a period of war, as defined in NYS Real Property Tax Law.
- Persons With Disabilities and Limited Incomes Partial Property Tax Exemption is available to eligible applicants who have a physical or mental impairment, not due to use of alcohol or illegal drug use, that substantially limits that person’s ability to engage in one or more major life activities. The requirements to qualify are based on the person’s disability, ownership, residency and occupancy status, and income. Persons with incomes less than $58,399 can qualify to receive an exemption from 5% to 50% of the assessed value.
- Home Improvement Tax Reductions Program for the Physically Disabled is granted to those persons who are physically disabled and meet certain criteria. It is equal to the amount of any increase in value of property attributable to improvements made for the purpose of facilitating and accommodating the use and accessibility of the property.
- Home Improvements Exemption is an eight-year decreasing exemption on alterations, reconstructions or improvements that increase the assessed value of a one or two family home. In the first year, 100% of the assessed value of the improvement is exempt. In the second year, 87.5%, in the third year, 75% and so on. Certain eligibility requirements must be met to participate in this program.
- First-Time Home Buyers of Newly Constructed Homes may apply for and receive a partial real property tax exemption. The maximum exemption is offered over five years, starting with a 50% exemption the first year and phasing to 10% in the fifth and final year. Homebuyers are subject to certain price and income limits set by the State of New York Mortgage Agency (SONYMA).
- Volunteer Firefighter and Ambulance Worker Exemption is available to eligible firefighters and ambulance workers. Up to 10% reduction in the assessed value of their property can be obtained to volunteers who have served at least five years in a Town of Oyster Bay Fire Department in which they reside. Certain eligibility requirements must be met to participate in this program.
Receiver Pravato advises homeowners who are interested in obtaining an exemption, to contact the Nassau County Department of Assessment at (516) 571-1500, where they can obtain additional information and applications. They may visit the County Assessor’s office at 240 Old Country Road, Mineola, New York 11501. However, first time applicants, or residents with an income between $250,000 and $500,000, for the STAR Credit must contact New York State directly to register by telephone at (518) 457-2036 or online at www.tax.ny.gov/pit/property/star/default.htm.
Residents interested in obtaining a free brochure describing the STAR, Senior Citizen, or Veterans exemption programs can obtain such at Town Hall North in Oyster Bay, Town Hall South in Massapequa, the Department of Public Works in Syosset, major park facilities, and by calling (516) 624-6380 or www.oysterbaytown.com