In New York State if you own a home and it is your primary residence (if you live there more than 6 months out of the year), you are probably entitled to School Tax Relief Assistance Rebate - STAR Exemption.  More than 3 million homeowners receive deductions off their school taxes.  In addition to the basic STAR deduction that all homeowners receive regardless of the properties value, as long as it is your primary residence, there are additional tax deductions for Seniors and Veterans. To qualify though you must apply for it at your local town assessors along with a properly filled out application. To qualify for the STAR deduction you must earn less than $500,000 annually. If you are a New York State resident click here to download the NY STATE STAR application . If you are a resident of NYC use this link for the NYC Star application  

This one way to save money on your mortgage payment. There is also enhanced deductions for seniors as well. However with the seniors exemption you will have to allow automatic income verification to avoid applying every year for the enhanced seniors exemption. Thank you

Town and Village Realty

www.townandvillagerealty.com

harry@townandvillagerealty.com