New STAR Credit Direct Deposit Info For NY’ers

Every single penny makes a difference, especially when it comes in the form of a rebate. As New Yorkers, we are all to aware of how expensive it is to simply exist in the state, and for homeowners, this is a constant struggle.

This time of year, New Yorkers are anxiously checking their bank accounts, mailboxes, or perhaps even their escrow accounts waiting for the STAR Credit to hit. An important update was recently shared about timing for this property tax relief.

School Tax Relief (STAR) Program

Hopefully, if you are a New York State homeowner, you are aware of the benefits of applying for the School Tax Relief (STAR) program, which offers property tax relief. With the proper information on hand, eligible state residents are able to easily apply for this annual relief program via the NYS website. Eligibility criteria includes primary residence requirements, income, and ownership status. More information (and a link to apply) can be found here.

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When Will My STAR Money Arrive, and How?

Recent communication from the New York State Tax Department to property owners included some helpful information and links for those looking for their money. New Yorkers wanting an update on the timeline of their STAR delivery can utilize this link for county specific delivery information.

In my area, Wappingers, the following information was made available via the search:

We began issuing STAR credits to eligible homeowners in your school district on September 3, and we will continue to issue them for several weeks. If you are eligible and we have the information necessary to issue your STAR credit, you can expect to receive your credit before your school tax due date. Our Contact Center representatives cannot provide a specific delivery date. You may receive your check or deposit before or after your neighbor or family member.

STAR Check Vs. Direct Deposit Vs. Exemption

Some NY residents have opted to receive the 'STAR credit' which means that the Tax Department will issue the benefit via a check or direct deposit.

Some NY residents have opted to receive the 'STAR credit' which means that the Tax Department will issue the benefit via a check or direct deposit. In turn, homeowners can use that money to pay for their school taxes.

Others, though, have opted for the exemption, which means the money does not come directly to you, but rather in a reduction to the bill itself. So long as you, the homeowner, maintain eligibility, you'll see the STAR reduction on the school tax bill.

An important thing to note is the exemption is no longer available to NEW homeowners, so if you have recently registered, or intend to for the first time, you will get your credit via check or direct deposit.

The state has a great FAQ section on their website about all things STAR related that may be helpful for those with additional questions about the benefit or how to apply.