ALBANY, N.Y. (AP) — The Democrat-controlled New York state Legislature has approved a change in a property tax credit benefit program.
The new state budget lawmakers worked out last weekend with Democratic Gov. Andrew Cuomo and approved on Monday makes changes to the STAR tax credit program.
Starting in 2016, homeowners eligible for the program started receiving their rebates in a check rather than having the savings included directly in their school tax bills.
According to Lohud.com , starting this fall, all property owners earning between $250,000 and $500,000 a year will receive a check for their STAR rebates.
Property owners earning less than $250,000 who bought their homes prior to mid-2015 will get the STAR rebate in their tax bills.
The STAR benefit program provides more than $3 billion in property tax relief each year.