Transfer Of TitleTaxesEASY
STAR (School Tax Relief) in NY provides:
Correct Answer
B) Reduction in school taxes for primary residence
STAR provides school tax relief for owner-occupied primary residences.
Answer Options
A
Full property tax exemptionB
Reduction in school taxes for primary residenceC
Commercial tax benefitsD
Transfer tax reductionAudio Lesson3 min
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Related Topics & Key Terms
Related Topics:
property-tax-assessmenthomestead-exemptionprimary-residence-requirements
Key Terms:
STAR programschool tax reliefprimary residenceNew York property taxEnhanced STAR
Related Concepts
Various programs and exemptions exist to reduce the property tax burden for specific groups, such as seniors, homesteaders, or veterans.
Homestead portability allows homeowners to transfer a portion of their accumulated homestead tax savings to a new homestead in the same state.
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