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School tax information and changes to the STAR exemption

September 1, 2016

Attention Homeowners:

Tax bills were mailed on Monday, Aug. 29.  Taxes may be paid at the Bank of Richmondville in Cobleskill or Richmondville between the hours of 10 a.m. and 2p.m., Monday – Friday, from September 1, 2016 through October 31, 2016 (except holidays).  A 2 percent penalty fee will be added for payments made after September 30, 2016.

If you have a question or concern regarding your property assessment or exemptions, please contact your town assessor.

Important Changes to New York State’s Property Tax Relief Programs:

STAR
Effective with new home purchases only, New York State replaced the STAR exemption with a STAR credit.  If you received a tax bill for your current home last year with a STAR exemption and you are still eligible, then you should see the STAR exemption on your 2016 tax bill as well.  If you bought your home after March 1, 2015 and are eligible, you will receive a STAR credit in the form of a check, rather than receiving a property tax exemption.  This will be noted on your tax bill.  For more information, please visit https://www.tax.ny.gov/pit/property/star/default.htm.

Property Tax Relief Credit
New York State created a new Property Tax Relief Credit for the years 2016 through 2019, which replaces the Property Tax Freeze Credit offered in 2014 and 2015. The new credit applies to homeowners who are receiving the STAR exemption and who live in school districts that pass budgets at or below their tax levy cap.  In 2016, the rebate will be a $185 credit for eligible homeowners earning $275,000 or less.  For the years 2017 through 2019, the rebate will equal the STAR tax savings multiplied by a percentage determined by the taxpayer’s income, with eligible annual income capped at $275,000. The State will mail rebate checks to residents in the fall.

Category: Budget, News