New York's senior citizens exemption can reduce your home's assessed value by up to 50% if you're 65 or older and your income falls under your locality's limit. Localities can set that limit anywhere from $3,000 to $50,000, with a sliding scale above it. You apply on Form RP-467 with your local assessor, usually by March 1.

What is the senior citizens exemption?

It's a partial property tax exemption under Real Property Tax Law section 467. Counties, cities, towns, villages and school districts each decide whether to offer it and what income limit to use. That means two neighbors in different towns can get different results with the same income.

The exemption lowers the assessed value used to calculate taxes for the units that grant it. At the maximum, a qualifying home is taxed on half its assessed value.

Who qualifies?

According to the New York State Department of Taxation and Finance, the main requirements are:

• Age: all owners generally must be 65 or older. There's an exception when the owners are spouses or siblings and at least one of them is 65.
• Income: combined income of all owners and spouses must be at or below the limit your locality set.
• Ownership: you generally must have owned the property for at least 12 consecutive months before you file, unless you received the exemption on your previous home. Transfers between spouses and to a surviving spouse don't break the 12 months.
• Residence: the property must be the legal residence of all the owners, unless one is absent for medical care.
• School-age children: the exemption generally doesn't apply to school taxes if a child living in the home attends public school.

How do the income limits work?

Localities can set a maximum income limit anywhere between $3,000 and $50,000. If your income is at or below that limit, you get the full 50% exemption. Above the limit, a sliding scale reduces the percentage.

The state gives an example for a locality using the $50,000 maximum:

• Income up to $50,000: 50% exemption.
• Income up to $55,700: 20% exemption.
• Income up to $57,500: 10% exemption.
• Income up to $58,400: 5% exemption.

Localities can also choose a more generous scale that gives exemptions as high as 65% to people with incomes well below the limit. Ask your assessor which scale your town and school district use.

What counts as income?

The state's instructions generally count income from all sources, including Social Security, pensions, interest, dividends, net rental income and wages. Some medical and prescription costs not reimbursed by insurance may be subtracted in some localities. Your assessor will tell you which documents to bring, typically your most recent federal or state tax return or equivalent records.

When and how do you apply?

You file Form RP-467 with your local assessor. The usual deadline is March 1, but the date can vary by locality, so check with your assessor. If you buy a home after the deadline, the state says you can apply up to 30 days after the purchase, and the assessor then has 30 days to decide whether you would have qualified. Some municipalities also allow late filing for hardship or renewals.

New York City residents apply through the Department of Finance for the Senior Citizen Homeowners' Exemption, known as SCHE, rather than through a town assessor.

Renewals use a separate form, RP-467-Rnw, and many localities require them each year to confirm your income still qualifies. If you weren't required to file a federal income tax return, there's an income worksheet, RP-467-Wkst, to document your income. Don't assume the exemption carries over without paperwork.

If one owner qualifies for the senior exemption and another qualifies for the exemption for persons with disabilities, the state says the owners can choose whichever is more beneficial.

Can you combine it with STAR?

Yes. The senior exemption is separate from STAR, the School Tax Relief program. Many older homeowners who qualify for the senior exemption also qualify for Enhanced STAR, which gives a larger school tax benefit to seniors under a separate income limit. The two together can make a real difference on a fixed income.

What does this mean if you're buying or selling?

For buyers, especially retirees, look at the current tax bill and ask whether it reflects exemptions you won't get. A seller's senior exemption ends when the home changes hands, so your bill could be noticeably higher. Ask the listing agent or the assessor for the full, unexempted tax amount before you set a budget.

For sellers, mention the exemption in your disclosures so buyers aren't surprised. If you're downsizing within New York, apply again in your new locality right away. The state says the 12-month ownership rule doesn't apply if you received the exemption on your previous residence, so you may not have to wait a year. Your new locality's income limit may differ, though.

FAQ

How much can New York's senior exemption save? Up to 50% off your home's assessed value for the taxing units that offer it, and in some localities up to 65% for lower incomes.

What's the income limit for the senior exemption? Each locality sets its own maximum between $3,000 and $50,000, with a sliding scale above it.

When is Form RP-467 due? Usually March 1, but check with your assessor. If you buy after the deadline, you can apply up to 30 days after the purchase.

Does New York City use RP-467? No. NYC homeowners apply for the Senior Citizen Homeowners' Exemption through the Department of Finance.

Next step

Call your assessor to ask about your locality's income limit and deadline. If you're thinking about buying or selling, talk with a licensed local agent about how exemptions change the true carrying cost of a home.

Sources: NYS Department of Taxation and Finance: Senior citizens exemption; NYS Department of Taxation and Finance: Form RP-467; NYC Department of Finance: Senior Citizen Homeowners' Exemption.

If you think your New York assessment is too high, you file Form RP-524 with the assessor or the board of assessment review by Grievance Day. In most towns that day is the fourth Tuesday in May. Miss it and you lose administrative review and the court option for this year.

You can grieve only the assessment on the current tentative roll. Prior years are closed. STAR is a different filing. It does not replace the grievance.

What day is the deadline where I live?

The Department of Taxation and Finance says Grievance Day is the fourth Tuesday in May in most communities, and you should confirm the date with your assessor or clerk. The exceptions are large enough to check:

• New York City: class one complaints by March 15, other property by March 1, filed with the Assessment Review Commission.
• Nassau County: March 1, also with an assessment review commission.
• Suffolk County towns: third Tuesday in May.
• Westchester County towns: third Tuesday in June.
• Villages that assess: often the third Tuesday in February. Confirm with the village assessor.
• Cities, and towns that share an assessor, can use a different day. Some shared-assessor towns may pick a day between the fourth Tuesday in May and the second Tuesday in June.

If you mail RP-524, the assessor or the board must receive it by Grievance Day. A postmark on the deadline is not the rule the department states.

What am I allowed to challenge?

The current tentative assessment. The department's calendar puts Tentative Roll Date at May 1 in most communities. The roll has to be available within ten days, including on the municipal website. Check it before Grievance Day, not after the school bill arrives.

Assessments reflect condition and ownership on taxable status date, and value on valuation date. A kitchen you finish in June does not change the roll you are looking at in May.

You can ask, in writing, for a list of your property, the assessed value, and the hearing time and place. That request has to be in no later than 15 days before Tentative Roll Date. The assessor must mail the information no later than five days after the tentative roll is completed.

How does a grievance differ from STAR?

STAR is a school-tax exemption or credit. A grievance says the assessment itself is wrong. New York's instructions say exemption applications go to the local assessor, not to the department, except for a specific extension form. Our guide to the STAR credit for new buyers covers registration. Filing STAR does not freeze the assessment, and grieving the assessment does not sign you up for STAR.

Buyers should still read the assessment before closing. The number on last year's tax bill can move on the next tentative roll. Sellers should know a pending grievance does not travel as a promise about next year's bill. Transfer taxes are a separate closing cost. See who pays New York transfer tax and mansion tax.

What if I do not live in the town?

A non-resident owner can ask for a hearing date after Grievance Day, and the board must set it no later than 21 days after Grievance Day. You still have to submit RP-524 on or before the regular Grievance Day. The request goes to the board or the assessor by that same day.

What happens after the board decides?

If you do not get the change you asked for, judicial review comes next. You cannot go to court without having gone through the grievance. Most homeowners use Small Claims Assessment Review. Tax certiorari in State Supreme Court is the other path, and the department says to use an attorney for that one.

The deadline is short. SCAR and tax certiorari have to be started within 30 days of the filing of the final assessment roll, or of notice of that filing, whichever is later. Final Roll Date is July 1 in most communities. Confirm both dates locally. Thirty days from the wrong Monday is a closed case.

What should I bring to the question of value?

The department does not publish a required exhibit list in the grievance overview, so ask the assessor what the board wants to see. Useful papers owners actually have:

• The tentative roll entry for your parcel
• Recent sales of similar houses, if you have them from a broker or the county
• Photos of conditions the assessment does not reflect
• A written statement of the error you are claiming

Flood disclosure and condition issues are a different form. See New York's property condition disclosure and flood questions. An assessment grievance is about the roll, not about what you must tell a buyer.

FAQ

What form do I file?

Form RP-524, Complaint on Real Property Assessment, outside New York City and Nassau County. Those two use their assessment review commissions and earlier deadlines.

Can I grieve last year's assessment?

No. Only the current tentative roll can be grieved.

Is Grievance Day the same everywhere?

No. The fourth Tuesday in May is the usual town date. New York City, Nassau, Suffolk, Westchester, many cities, and villages that assess use other dates. Ask your assessor.

Can I go to court first?

No. Judicial review, including Small Claims Assessment Review, comes after the grievance.

Does filing STAR grieve my assessment?

No. STAR is an exemption or credit. The assessment complaint is RP-524 or the city's own complaint, by Grievance Day.

Next step

Call the assessor, confirm Tentative Roll Date and Grievance Day, and read your parcel on the tentative roll. If the number is wrong, file RP-524 so it is received by that day. A licensed local agent can help you gather sales, and the assessor's office can tell you where the form goes.

Sources: NY Department of Taxation and Finance: grievance procedures, property tax calendar, contest your assessment, STAR exemption forms.

New York's housing market in fall 2026 has more homes for sale and higher prices. The New York State Association of REALTORS (NYSAR) reported 35,294 homes for sale statewide in September 2026, up 9.8% from a year earlier, while the median sales price rose 5.9% to $450,000. Closed sales slipped 1.4% to 9,893.

So buyers have more to look at than a year ago, but prices haven't cooled. Here's what the September numbers, released October 20, 2026, actually show.

Are New York home prices still going up?

Yes, statewide. NYSAR's September report:

• Median sales price: $450,000, up 5.9% from $425,000 in September 2025
• Average sales price: $601,462, up 5.0% from $572,920
• Year-to-date median: $450,000, up 4.7%
• Percent of list price received: 101.9%, the same as a year ago

NYSAR says September was the sixth straight month of year-over-year median price gains. And sellers are still getting a bit over asking on average, at 101.9% of list price.

Is inventory rising?

It is, and that's the bigger shift. From the same report:

• Homes for sale: 35,294, up 9.8% from 32,149
• Months' supply: 4.0, up from 3.6
• New listings: 13,867, up 1.2%

Even with the jump, NYSAR notes that a 6- to 6.5-month supply is generally considered balanced. At 4.0 months, New York is still a seller-leaning market on paper. It's just less tight than it was.

Are homes selling more slowly?

A little. The numbers:

• Closed sales: 9,893, down 1.4% from 10,029
• Pending sales: 9,091, down 5.4% from 9,614
• Days on market: 45, up from 44
• Year-to-date closed sales: 76,249, down 0.7%

Pending sales falling faster than closings hints that October and November closings could come in softer. That's a reading of the trend, not a forecast from NYSAR.

What happened with mortgage rates?

They went up. NYSAR, citing Freddie Mac, says the 30-year fixed averaged 6.86% in September 2026, up from 6.67% in August and 6.35% a year earlier. The weekly average hit 7.03% on September 24, the first time over 7% since January 2025.

NYSAR's housing affordability index fell to 89 from 100 a year earlier. Higher prices plus higher rates will do that.

How do prices compare across New York counties?

They're all over the map. A few September medians from NYSAR's county table, with the change from a year earlier:

• Nassau: $830,000, up 2.5%
• Suffolk: $725,000, up 3.7%
• Queens: $653,000, up 4.1%
• Dutchess: $519,500, up 15.4%
• Erie (Buffalo area): $321,501, up 5.4%
• Monroe (Rochester area): $301,000, up 10.3%
• Onondaga (Syracuse area): $284,125, up 3.3%

Inventory is moving fast in some upstate counties. Onondaga's homes for sale jumped 65.7% to 815, and Monroe's rose 21.6% to 709, though both still have small supplies (2.5 and 1.2 months). Long Island's inventory was roughly flat.

A caveat: NYSAR's data comes from the state's multiple listing services, and some counties, including Manhattan, aren't broken out in this report. County numbers in any single month can swing on a small number of sales.

What about Queens and Staten Island?

The two boroughs in NYSAR's county table with full numbers are moving in different directions:

• Queens: 587 closed sales, up 3.2%. Inventory of 3,990 homes and 6.8 months of supply, which is already about balanced by NYSAR's yardstick
• Staten Island (Richmond): 217 closed sales, up 10.7%, and a $710,000 median, up 5.2%. Inventory fell 19.3% to 731 homes, or 3.8 months

So a Queens buyer has more room to negotiate than a Staten Island buyer right now, at least on these September numbers.

What does this mean if I'm buying?

You've got more choice than last fall, but don't expect bargains. A few ideas:

• Get preapproved and ask your lender about rate locks, since rates moved fast in September
• Budget for closing costs, including the state transfer tax and, at $1 million or more, the mansion tax. See New York transfer tax and mansion tax
• Read the seller's Property Condition Disclosure Statement before you sign
• Register for the STAR credit after you close

What does this mean if I'm selling?

Prices are holding, but you've got more competition. With inventory up nearly 10%, buyers can compare. Pricing right from the first day matters more than it did a year ago, and your agent's read on nearby active listings is worth more now too.

If you're planning to move out of state after the sale, start lining up movers early. Our guide to moving out of New York covers your rights with interstate movers.

FAQ

What is the median home price in New York in 2026?
NYSAR reported a statewide median of $450,000 for September 2026, up 5.9% from a year earlier.

Is New York a buyer's or seller's market right now?
Still seller-leaning. Months' supply was 4.0 in September 2026, below the 6 to 6.5 months NYSAR considers balanced, but up from 3.6 a year earlier.

How many homes are for sale in New York?
35,294 in September 2026, up 9.8% from 32,149 a year earlier, according to NYSAR.

What were mortgage rates in September 2026?
The 30-year fixed averaged 6.86%, per Freddie Mac data cited by NYSAR, and hit 7.03% on September 24.

Next step

A licensed local real estate agent can pull recent sales for your exact neighborhood, since county medians don't tell you what a house on your street is worth. Bring your timeline and budget. More guides are on the New York real estate page.

Sources: NYSAR: New York housing inventory rises nearly 10 percent in September, NYSAR Monthly Indicators, September 2026 (PDF).

New York State charges a real estate transfer tax of $2 for every $500 of the sale price, which works out to 0.4%, and the seller usually pays it. Buyers of homes that sell for $1 million or more also owe the "mansion tax," an extra 1% of the price. New York City adds its own taxes on top.

These numbers come straight from the state Tax Department. They land at closing, so it helps to know who's on the hook before you agree on a price.

How is the New York transfer tax calculated?

The state taxes deeds and other conveyances of real property when the price is over $500. The rate is $2 for each $500, or part of $500, of the consideration.

Simple math, not a quote:

• $300,000 sale: $1,200
• $450,000 sale: $1,800
• $800,000 sale: $3,200

Who pays the transfer tax?

The seller, by default. The Tax Department says the base tax is paid by the grantor (seller) and can't be passed to the buyer unless the contract says so.

A few twists:

• If the seller doesn't pay, or is exempt, the buyer has to pay it. The tax then becomes the joint responsibility of both, and the buyer can go after the seller for it
• If a buyer agrees in the contract to pay the transfer tax on a home sale, that amount is left out of the price the tax is figured on

So the contract matters. If a deal shifts the seller's transfer tax to you, it'll be in writing. Read that clause.

What is the New York mansion tax?

It's an extra 1% of the full sale price on a residence when the price is $1 million or more. The Tax Department calls it the "additional tax."

The buyer pays it. If the buyer doesn't pay or is exempt, the seller has to.

Because it's 1% of the whole price, crossing the line costs you:

• $999,999 home: no mansion tax
• $1,000,000 home: $10,000
• $1,250,000 home: $12,500

That cliff is worth watching when an offer lands near $1 million. On Long Island it's not a rare price point. Our New York housing market update shows September 2026 medians of $830,000 in Nassau and $725,000 in Suffolk.

Are there extra taxes in New York City?

Yes. Since July 1, 2019, the state adds two taxes on certain New York City sales:

• Additional base tax. $1.25 per $500 when a residential sale is $3 million or more ($2 million or more for non-residential property). Paid by the seller
• Supplemental tax. For residential sales of $2 million or more, an incremental rate from 0.25% up to 2.9% depending on the price. Paid by the buyer. The exact brackets are in the instructions for Form TP-584-NYC

That supplemental tax is what people mean by the NYC "mansion tax" scale. It works alongside the 1% state mansion tax.

The city also has its own Real Property Transfer Tax (RPTT), run by the NYC Department of Finance. It applies to sales over $25,000, and it covers transfers of co-op shares too. Check the Department of Finance site for current RPTT rates before you budget.

What forms get filed?

Your closing attorney usually handles this, but it helps to know the names:

• Form TP-584 for property outside New York City, filed with the county clerk
• Form TP-584-NYC for every conveyance in New York City
• Form NYC-RPT for the city's Real Property Transfer Tax

The state return and payment are due no later than the 15th day after the deed is delivered.

Do LLCs or out-of-state sellers have extra steps?

Both do.

When an LLC buys or sells a building with up to four homes, the state won't accept the transfer tax form unless it comes with the names and addresses of every member, manager, and authorized person. If a member is another business entity, you keep listing owners until you reach actual people.

Nonresident sellers have to figure their gain on the sale and pay estimated New York income tax at closing, unless an exemption on the TP-584 applies. The forms are IT-2663 for real property and IT-2664 for co-op units.

What else costs money at a New York closing?

Transfer taxes are only one line. Depending on the deal, buyers and sellers may also see:

• Attorney fees
• Title insurance and recording fees
• Mortgage-related costs for the buyer
• Prorated property taxes and school taxes

On the school tax side, new owners should register for the STAR credit soon after closing. See New York STAR credit: how much and how to register.

Sellers have one more piece of paper to handle before any of this: the Property Condition Disclosure Statement, which has to reach the buyer before the contract is signed.

FAQ

Who pays the transfer tax in New York?
The seller pays the state's base transfer tax unless the contract says otherwise. If the seller doesn't pay or is exempt, the buyer must.

What is the New York mansion tax rate?
1% of the full price on residential sales of $1 million or more, paid by the buyer.

How much is the New York State transfer tax on a $500,000 home?
$2,000, at $2 per $500 of the price.

Is there an extra NYC transfer tax?
Yes. New York City has its own Real Property Transfer Tax, and the state adds an additional base tax and a supplemental tax on higher-priced NYC sales.

Next step

A licensed local real estate agent can estimate your closing costs with your attorney, including transfer and mansion taxes, before you set a price or make an offer. For exact figures, your closing attorney will prepare the TP-584. More guides are on the New York real estate page.

Sources: NYS Tax Department: Real estate transfer tax, NYC Department of Finance: Real Property Transfer Tax.

Most New York sellers of a one- to four-family home must fill out and sign a Property Condition Disclosure Statement (PCDS) and give it to the buyer before the buyer signs a binding contract. Since March 20, 2024, sellers can no longer skip it by giving a $500 credit, and the form now asks about flood risk and flood history.

That change made the PCDS a real document in New York deals instead of something people routinely waived. Here's what it covers and what it doesn't.

What is the Property Condition Disclosure Statement?

It's a standard form set by Real Property Law section 462. The seller answers questions about the home based on what they actually know. According to Stewart Title's summary of the 2024 version, the form has 56 questions covering ownership and occupancy, structural and mechanical systems, and environmental issues.

For each question, the seller answers:

• Yes
• No
• Unkn (unknown)
• NA (not applicable)

There's room for written explanations too. A completed copy signed by both seller and buyer gets attached to the purchase contract.

What changed on March 20, 2024?

Two big things, both from a 2023 law (S5400/A1967):

• No more $500 credit. Before, a seller could hand the buyer a $500 credit at closing instead of filling out the form. That option is gone
• Flood questions. The form now asks whether the property is in a FEMA 100-year or 500-year floodplain, whether it has to comply with federal flood insurance requirements, whether the seller has filed flood damage claims, and whether the seller got FEMA or SBA disaster assistance

The New York State Association of REALTORS (NYSAR) notes the date the listing was taken doesn't matter. What counts is when the buyer signed. Contracts signed on or after March 20, 2024 need the new form.

Which sales need a PCDS?

The law covers "residential real property," meaning land with a one- to four-family home used as someone's residence. Mixed-use buildings that include a one- to four-family home are covered too.

It doesn't apply to:

• Condominium units
• Cooperative apartments
• Property in a homeowners' association that the seller doesn't own in fee simple
• Vacant land where a home is going to be built

Section 463 lists 14 more exemptions. A few common ones:

• Foreclosure sales and transfers to a lender by deed in lieu of foreclosure
• Transfers by an estate's fiduciary, a trustee, or a guardian
• Transfers between co-owners, between spouses, or to a child or other lineal relative
• Transfers in a divorce
• New homes that have never been lived in
• Sheriff's sales and partition actions

So if you're buying a co-op in Queens or a condo in Buffalo, don't expect a PCDS. Your attorney and your own inspections do more of the work there.

When does the seller have to deliver it?

Before the buyer signs a binding contract of sale. The point is for the buyer to read it while they can still walk away or negotiate.

If the seller learns something later that makes the form materially wrong, Real Property Law section 464 says they have to give the buyer a revised statement as soon as practicable. That duty ends at closing or when the buyer moves in, whichever comes first.

What if the seller lies or doesn't fill it out?

Under section 465, a seller who fails to deliver the PCDS, or knowingly gives false answers, loses the law's protections and can be liable for the buyer's actual damages.

A few nuances worth knowing:

• The standard is the seller's actual knowledge, not what they should have known
• Checking "Unkn" won't protect a seller who actually knew the answer
• The seller doesn't have to hire inspectors to fill out the form
• Homes can still be sold "as is." The law doesn't stop that kind of agreement

Is the PCDS a warranty?

No. It isn't a warranty from the seller or the seller's agent, and it doesn't replace your inspection. A seller can honestly not know about a cracked heat exchanger or old oil tank.

Buyers should still:

• Hire a home inspector, and add specialists for the roof, septic, well, or chimney if the house calls for it
• Check flood maps for the address and get a flood insurance quote
• Ask for the home's insurance claims history (a CLUE report)

The flood questions are a good reason to call an insurance agent early. Standard homeowners insurance in New York doesn't cover flooding. See does homeowners insurance cover flooding in New York and check the address with FloodFireCheck.

What do real estate agents have to do?

Section 466 puts a duty on licensed agents to tell people about the law:

• A listing agent must tell the seller about the obligation to complete the PCDS
• A buyer's agent must tell the buyer about their rights under the law before the buyer signs a binding contract
• If the buyer has no agent, the seller's agent has to tell the buyer

NYSAR advises agents not to fill out the form for sellers. The seller completes it, ideally after talking with their attorney.

FAQ

Can a New York seller still give a $500 credit instead of the disclosure?
No. That option ended March 20, 2024. Sellers of covered homes must complete and deliver the PCDS.

Does the PCDS apply to condos and co-ops?
No. Condominium units, cooperative apartments, and some HOA properties are excluded from the law's definition of residential real property.

What flood questions are on the New York disclosure form?
Whether the home is in a FEMA 100-year or 500-year floodplain, federal flood insurance requirements, any flood damage claims, and any FEMA or SBA disaster assistance received.

When must the seller give the buyer the PCDS?
Before the buyer signs a binding contract of sale.

Next step

A licensed local real estate agent can make sure the PCDS is on the table before you sign, flag answers that need follow-up, and point you to inspectors who know the area. Your attorney should review the form with you. More guides are on the New York real estate page.

Sources: NYSAR: Amended PCDS goes into effect March 20, 2024, Stewart Title: Property Condition Disclosure Statement Amendments, NY Senate: S5400 (2023), NYS Department of State: PCDS form.

The New York STAR credit is a yearly check or direct deposit from the state Tax Department that helps pay your school taxes. How much you get depends on your school district and home value, so there's no single statewide number. You register once for the credit, and the Tax Department pays it every year you qualify.

"How much is the STAR credit in NY" was one of the fastest-rising STAR searches in New York on Google Trends over the past 90 days, along with the delivery schedule. Fair questions. Here's how it works.

What's the difference between the STAR credit and the STAR exemption?

There are two ways to get the benefit:

• STAR credit. A check or direct deposit you use toward school taxes
• STAR exemption. A reduction printed right on your school tax bill

The exemption is closed to new people. The Tax Department says that if you've had the exemption since 2015, you can keep it for the same primary residence. Anyone who bought after 2015 gets the credit instead.

The Tax Department also says you may get a larger benefit by switching from the exemption to the credit. But once you switch, you can't switch back.

How much is the STAR credit?

It varies. The Tax Department says Basic STAR is based on the first $30,000 of your home's full value, and Enhanced STAR is based on the first $91,700 of full value for the 2027-2028 school year. The school tax rate where you live turns that into dollars, so two neighbors in different districts can get very different amounts.

To see your actual number:

• Use the Tax Department's Property Tax Credit Lookup to see credits already issued for your property
• Check the STAR Credit Delivery Schedule lookup for when payments go out in your county and school district

One thing that surprises people: STAR applies to school taxes only. The exception is New York City, Buffalo, Rochester, Yonkers, and Syracuse, where it's split between city and school taxes.

Who qualifies for STAR?

The basics, from the Tax Department:

• Ownership. The eligible applicants own the property
• Primary residence. It's the main home of an eligible owner
• July 1 test. You have to own it, and it has to be your primary residence, as of July 1 of the benefit year
• One per couple. A married couple gets only one STAR benefit no matter how many homes they own, unless legally separated

Houses, condos, co-op apartments, manufactured homes, and farm houses can all qualify. Corporations, partnerships, and LLCs can't, unless it's a farm dwelling.

What are the income limits?

There are two levels:

• Basic STAR. No age limit. Combined income of $500,000 or less for the credit ($250,000 or less for the older exemption)
• Enhanced STAR. At least one resident owner 65 or older by December 31 of the benefit year. Income of $110,750 or less for 2026 benefits and $113,550 or less for 2027 benefits

Income counts only owners and owners' spouses who live at the property. The Tax Department defines it as federal adjusted gross income minus the taxable part of IRA distributions, using the return from two years earlier. For 2026 benefits, that's your 2024 return.

I just bought a home. When do I get STAR?

The July 1 rule decides it. The Tax Department gives two examples:

• Buy on June 15, register, and you can get the credit that same year
• Buy on July 15, and you're eligible starting the following year

There's a wrinkle. If the seller had the STAR exemption, you may see it on your first school tax bill. That's theirs, not yours. You still have to register for the credit to keep getting a benefit after that first year.

If you're shopping for a home now, see our New York housing market update for where prices and inventory stand.

How do I register?

Online, through the Homeowner Benefit Portal in your Tax Department Individual Online Services account. Have these ready:

• Names and Social Security numbers for all owners and their spouses
• Your school district
• The approximate purchase date and, if you have it, the sellers' names
• Your most recent school tax bill, if the current owners got one
• Any residential property you own in another state
• Your 2024 federal or state income tax returns
• Bank details if you want direct deposit

You only register once. You'll need to update it if ownership changes through marriage, divorce, a co-owner leaving, a trust, or a name change. If you move, you register again for the new home.

What if I'm late?

You still have time. The Tax Department accepts registrations for up to three years from the income tax filing deadline for the year of the credit. Its example: to claim the 2024 credit, register by April 15, 2028.

Interest is a different story. State law pays interest on a late STAR credit only if you registered on or before July 1 of that year, and then only depending on when your school district filed its tax roll.

Should I set up direct deposit?

It's faster. The Tax Department says direct deposit gets your credit to you sooner and avoids lost checks. Enroll at least 15 days before it issues credits in your area, or you'll get a check that year.

If your school taxes are paid through a mortgage escrow account, let your lender know you're getting the credit rather than the exemption. Your escrow math may change.

FAQ

How much is the STAR credit in New York?
It depends on your school district's tax rate and your home's value. Basic STAR is based on the first $30,000 of full value. The Property Tax Credit Lookup shows what's been issued for your home.

Can a new homeowner get the STAR exemption?
No. The exemption is only for people who've received it since 2015 on the same home. New buyers register for the credit.

What's the income limit for Basic STAR?
$500,000 or less in combined income for owners and resident spouses.

Do I have to register every year?
No. Register once, and the Tax Department reviews eligibility every year while you own and live in the home.

Next step

A licensed local real estate agent can help you figure out the school district and expected tax picture before you buy, and remind you about STAR registration after closing. For your exact credit, use the Tax Department's lookup tools. More guides are on the New York real estate page.

Sources: NYS Tax Department: Register for STAR, STAR eligibility, Types of STAR, STAR FAQs, STAR Credit Delivery Schedule.