It is a local option to establish two separate property tax rates: a lower tax rate for residential property owners. You can get information about your property tax benefits, including: Application status, Current benefit amounts, Proposed benefit for the upcoming tax year.Exemption applications must be filed with your local assessor's office. See our Municipal Profiles for your local assessor's mailing address. The property must be your primary residence. Vacation homes, investment properties, and second homes do not qualify. To apply for the credit, taxpayers must fill out NYS tax form IT 214, Claim for the Real Property Tax Credit, and attach it to their NYS income tax return. STAR is the New York State School Tax Relief program that provides an exemption from school property taxes for owner-occupied, primary residences. A homestead exemption is a legal provision that helps to reduce the amount of property taxes on owner-occupied homes. Each exemption has varying requirements.
