Dear Friend
It's a new year and what better time than to be sure you're not paying more than you should be in property taxes.
- If you received an impact statement notification from your city or town saying that your assessment has gone up, we have resources to guide you.
- Check now to be sure you are receiving any exemptions you are eligible for to reduce your school and property taxes. Apply by March 1.
The earlier you prepare to take steps to make your case, the better. We have a wide range of resources on our website and you can also email us at any time with your questions.
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Apply for Exemptions by March 1 |
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Your Assessment Can Be Reduced if You Qualify for Exemptions
There are more than 500 exemptions for homeowners, villages, and towns. Ask your assessor if you qualify for others. You must apply for and file with your Assessor’s Office on or before March 1 to affect the applicable year’s taxes. Exemption Info & Forms
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Turning 65 This Year? You May Qualify for Enhanced STAR - The Income Limit Increased to $98,700 - Apply by March 1 |
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If you turn 65 at any time this taxable year, even on December 31, you may qualify for Enhanced STAR Exemption, which will reduce your school tax bill. You must apply by March 1. The income limit for 2024 is now $98,700 or less. Everything you list is income EXCEPT distributions from an IRA account. So if you are looking at your taxes to see if you qualify, it would be your adjusted gross income minus any number on line 15b (if applicable). Homeowners currently receiving STAR Credit will automatically receive a check for your enhanced STAR benefit when you become eligible for Enhanced STAR. Basic STAR exemption recipients who turn 65 and meet the eligibility requirements, just apply to your assessor for the Enhanced STAR exemption. You only need to apply once.
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Save on Your School Tax Bill with STAR - Applications Due by March 1 |
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The School Tax Relief (STAR) program helps eligible NYS homeowners save on school tax bills. You must own your home, it must be your primary residence, and the combined income of the owners and spouses is $500,000 or less.
With a STAR credit, you receive a check or direct deposit. If you are receiving a STAR exemption (no longer available to new homeowners) you may save more by applying for the STAR credit. Read more
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New Case Study on Grievance
that Reduced Assessment by $230,000
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This new Case Study outlines property tax consultant Warren Leisenring, Jr.'s experiences and research while grieving an assessment for a client of his in upstate New York. The property's assessed value went up $335,700 from $844,300 to $1,180,000.
He represented the property owner from an informal meeting with the assessor, and a Board of Assessment Review Hearing, to a Small Claims Assessment Review Hearing or SCAR Hearing. The journey resulted in a $230,000 reduction in the property owner's assessment. Read about his experiences along the way, what he discovered, and tips to use in your grievance. Case Study #4
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Americans Moved to Low-Tax States in 2023 |
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The non-profit Tax Foundation reports: Americans were on the move in 2023, and many chose low-tax states over high-tax ones. Interstate migration was the key driver of net state population changes. Interstate migration estimates show that New York lost the greatest share of its population (1.1 percent) to other states.
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Who Pays?
A Distributional Analysis of the Tax Systems in All 50 States
A new report from ITEP a non-profit, non-partisan tax policy organization, assesses the progressivity and regressivity of state tax systems by measuring effective state and local tax rates paid by all income groups. Why is this important? The vast majority of state and local tax systems are regressive, or upside-down. This requires a much greater share of income from low- and middle-income families than from wealthy families. States without a graduated personal income tax and a heavy reliance on consumption taxes contribute to this effect. The lower one's income, the higher one's overall effective state and local tax rate Only six states and DC reserve their lowest overall tax rates for low-income families – Maine, Minnesota, New Jersey, New Mexico, New York, and Vermont. Read report
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Income Limits Increase for Seniors and those with Lower Incomes |
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NYS has amended Real Property Tax Law increasing the max income limit from $37,400 to $58,400 and simplifying the definition of income for “income” for the senior citizens exemption and the exemption for persons with disabilities and limited incomes, beginning with the 2024 assessment rolls.
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If you plan to challenge your assessment the two documents below may be helpful as you prepare a list of comparable properties to document your case. |
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Blank Comparable Property Analysis Spreadsheet
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Current Comparable Sales Analysis Adjustment Formula Word | PDF | Web
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2024 Key Dates to Remember |
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March 1
This is the deadline for most exemptions. STAR (School Tax Relief - new & existing owners), Senior Citizens, Veterans, Agricultural & Persons with Disabilities. Property Tax Exemptions
May 1
Tentative Assessment Roll is Made Public. Check your assessment soon to determine if you have reasons for grievance.
May 16
School Budget Voting Day - Generally the 3rd Tuesday in May. All residents meeting the required age are eligible to vote. A significant percentage of your property tax bill is based on your school budget so stay informed and vote!
May 21
July 1 - Final Assessment Roll is Made Public - This is the final date upon which the value of your property is based for assessment purposes. Your property assessment for this year (2024) was based on the value of your property as of July 1st, 2023. Any changes in your property after July 1st, 2024 will not be reflected in your assessment until the next assessment year (2025). SCAR: Fillable Petition* | SCAR: General Info & Instructions
July 1 - Valuation Date - This is the final date upon which the value of your property is based for assessment purposes. Your property assessment for this year (2024) was based on the value of your property as of July 1st, 2023. Any changes in your property after July 1st, 2024 will not be reflected in your assessment until the next assessment year (2025). If there were any significant changes in the property by the Taxable Status Date (March 1st, 2024), you may see a change in your property tax assessment.
No Later than July 1
September 1
School Property Tax Bills are mailed to property owners.
Year-round
New Homeowners: Register with NYS to Receive a STAR Credit. Register 24 hours a day, 7 days a week at www.tax.ny.gov/star. See flier or register by phone at 518-457-2036 on weekdays between 8:30 a.m. and 4:30 p.m.
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Get a Free Bumper Sticker!
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Thanks for being a TMPF newsletter subscriber. Help spread the word for Fair Taxes in Upstate NY! Provide your NYS address and we will send you a Tax My Property Fairly bumper sticker. Order now - Free!
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Property Taxes in the News |
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