Binghamton Plans STAR Program Information Session
Property owners in Binghamton will be able to learn the steps needed to apply for the STAR tax exemption program in an information session this week.
The city has scheduled the event for Thursday afternoon at the First Ward Senior Center.
The session is to start at 12:15 at the center, which is located at 226 Clinton Street.
STAR stands for "School Tax Relief." According to the state Department of Taxation and Finance, the basic STAR program is available for owner-occupied primary residences where the resident owner's and their spouse's income is less than $500,000. The first $30,000 of a home's full value is exempted from school taxes.
The enhanced STAR program provides an increased benefit for the primary residences of those age 65 and older with qualifying incomes. It exemptes the first $63,300 of the home's full value from school taxes for the next school year. That's up from $62,200 in the current school year.
The exemptions do not apply to county, town or city property taxes; they only apply to school district taxes.
Exemption applications for the enhanced STAR program will be accepted between January 1 and March 1. All applications must be received by March 1.