ALBANY, N.Y. (NEWS10) — Could there be an end to school property taxes for senior citizen homeowners? That’s what a new proposal by lawmakers would do.
The Two-Star Relief Program would double the tax relief benefits for recipients of the already existing STAR and Enhanced STAR tax relief program. Homeowners aged 80 and up who qualify for the Enhanced Star Program would not need to pay school property taxes if this bill were to pass.
Senator Tedisco explained how lawmakers can relieve some financial burdens for New Yorkers, “We got an answer for them now. If you fall between the income level of the enhanced STAR credit which is 65 now, but when you get to be 80 you would pay no taxes whatsoever—finally. That would end the eternity for one very regressive tax area and that’s the school property tax.”
Lawmakers say that with inflation skyrocketing, and New York carrying one of the highest tax burdens in the nation. The proposal is just one attempt to make home ownership more affordable. There are about 650,000 New Yorkers who currently receive the Enhanced STAR Program.