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LIBOUND
Texting king
Member since 10/05 5289 total posts
Name:
Suzy
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Star Program Question
This is my dilema:
We are in the process of purchasing a home. My closing date is April 3. We are in the process of getting the committment letter from the bank (this is where we are with everything right now). We received a call from our realtor to try to get the closing date pushed up because according to her we only have until March to apply for star. Now I can't do anything yet until I get this commitment from the bank (we should have it in the next few days), but is she telling me the truth about the Star? I thought you could apply anytime.
She's not actually our realtor, when I think of it, just a realtor from MLS who was showing us houses and she got this one for us.
Does anybody know if she is accurate?? I don't want to push anything up, I like the April date (later is ok too).
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Posted 1/25/06 2:39 PM  |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Star Program Question
from what i understand...deadline is end of march... if you submit before that date, its effective the following tax year... (so 2007)
if you miss this deadline, you can't save on taxes till 2008
i would try to close earlier...
other things could come up though at the closing table
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| Posted 1/25/06 2:50 PM |
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LIBOUND
Texting king
Member since 10/05 5289 total posts
Name:
Suzy
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Re: Star Program Question
....like what?????
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| Posted 1/25/06 2:51 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Star Program Question
The deadline for Oct2006-Oct2007 taxes was January 2nd I believe.
You can apply anytime this year... and it won't take effect till Oct 2007-Oct2008 taxes.
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| Posted 1/25/06 2:54 PM |
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LuckySV
LIF Adult
Member since 10/05 4675 total posts
Name:
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Re: Star Program Question
My understanding was that STAR transferred over. We paid taxes this past dec (closed may 10) with STAR deduction. We just put in paperwork in Dec. Contact your townhall and they should be able to give you the details.
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| Posted 1/25/06 2:55 PM |
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PiyoPika566
talk to the hand
Member since 5/05 1436 total posts
Name:
Stephanie
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Re: Star Program Question
Posted by DjPiLL
The deadline for Oct2006-Oct2007 taxes was January 2nd I believe.
You can apply anytime this year... and it won't take effect till Oct 2007-Oct2008 taxes.
Rich, for Nassau the application deadline is Jan.. for Suffolk is March.
I would try to move up the closing date, otherwise you'll have to wait till 2007 to apply for STAR savings for the year of 2008
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| Posted 1/25/06 2:57 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Star Program Question
Posted by PiyoPika566
Posted by DjPiLL
The deadline for Oct2006-Oct2007 taxes was January 2nd I believe.
You can apply anytime this year... and it won't take effect till Oct 2007-Oct2008 taxes.
Rich, for Nassau the application deadline is Jan.. for Suffolk is March.
I would try to move up the closing date, otherwise you'll have to wait till 2007 to apply for STAR savings for the year of 2008
Good to know. Thanks for the info.
Don't forget that besides the deed paperwork to your house that you get at closing... you have to bring "proof of residence" to get the STAR. They usually ask for a utility bill... but the easiest thing to give them that they accept is an updated car registration. Just go to DMV right before you go to the town office... re-register your car with the new address and they accept the new car registration.
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| Posted 1/25/06 2:59 PM |
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LIBOUND
Texting king
Member since 10/05 5289 total posts
Name:
Suzy
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Re: Star Program Question
Posted by DjPiLL
Posted by PiyoPika566
Posted by DjPiLL
The deadline for Oct2006-Oct2007 taxes was January 2nd I believe.
You can apply anytime this year... and it won't take effect till Oct 2007-Oct2008 taxes.
Rich, for Nassau the application deadline is Jan.. for Suffolk is March.
I would try to move up the closing date, otherwise you'll have to wait till 2007 to apply for STAR savings for the year of 2008
Good to know. Thanks for the info.
Don't forget that besides the deed paperwork to your house that you get at closing... you have to bring "proof of residence" to get the STAR. They usually ask for a utility bill... but the easiest thing to give them that they accept is an updated car registration. Just go to DMV right before you go to the town office... re-register your car with the new address and they accept the new car registration.
Great info....did not even think of that DJPill!!!
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| Posted 1/25/06 3:01 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Star Program Question
bank problems, lawyers problems...just problems....
for example, out closing lasted 3 hours.
techincally, it took 45 mins but for the first 2 hours we were wondering if it was gonna happen or not. our bank wasn't prepared to close on that day when all lawyers involved (3, ours, sellers, co op) agreed to a date.
that day, bank is like, we can't do today, maybe next week, etc.. words were flying. at the end, he did what he had to do and got the docs...had to wait 2 hours but it got done.
link to star form
according to the form, depening where your gonna be live, the due date can change. the form actually says typically march 1st
faq on star
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| Posted 1/25/06 3:02 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Star Program Question
Posted by LIBOUND
Great info....did not even think of that DJPill!!!
Yeah... just confirm this fact since you are in Suffolk and the rules may be different.
In Nassau I gave them my deed paperwork I got at closing... and a new car registration I got that morning... and I was accepted.
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| Posted 1/25/06 3:06 PM |
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LIBOUND
Texting king
Member since 10/05 5289 total posts
Name:
Suzy
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Re: Star Program Question
Posted by BabyBoy
bank problems, lawyers problems...just problems....
for example, out closing lasted 3 hours.
techincally, it took 45 mins but for the first 2 hours we were wondering if it was gonna happen or not. our bank wasn't prepared to close on that day when all lawyers involved (3, ours, sellers, co op) agreed to a date.
that day, bank is like, we can't do today, maybe next week, etc.. words were flying. at the end, he did what he had to do and got the docs...had to wait 2 hours but it got done.
link to star form
according to the form, depening where your gonna be live, the due date can change. the form actually says typically march 1st
faq on star
.....thanks, I was going to ask for the link next. We'll be in Suffolk County, so it seems that the realtor is right. I'm going to speak to DH tonight to see what he wants to do. I didn't realize that it's for NEXT year.
....this closing thing is making me crazy
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| Posted 1/25/06 3:06 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Star Program Question
Posted by LIBOUND
I didn't realize that it's for NEXT year.
....this closing thing is making me crazy
I didn't know either tell I asked about it also.
Was banking on the savings per month (for me it be about 100 bucks)
Closing if no problems is the an easy thing. "Here are your keys... " and we say "thats it?" As long as your have a good bank and they are ready to fund, you will have a new home and hopefully save on a Star for next year.
we just moved and about to send our paper work.
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| Posted 1/25/06 3:16 PM |
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ODonnell
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Member since 9/05 5983 total posts
Name:
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Re: Star Program Question
I just went through this yesterday with the receiver of taxes and STAR program in my town. The deadline that you have to close by is March 1.
We closed in May and I applied for and got accepted for STAR, but I didn't realize that it was for 2007, because we didn't make the cut-off and the previous owner had the STAR moved from the house we bought to the new one.
If the current owner of the house has an active STAR discount in place as of your closing date, you should be okay for the next year. BUT CHECK. I wish we knew this at the time of closing
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| Posted 1/25/06 3:16 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Star Program Question
Posted by ODonnell
If the current owner of the house has an active STAR discount in place as of your closing date, you should be okay for the next year. BUT CHECK. I wish we knew this at the time of closing
Correct me if I am wrong.... but...
A homeowner cannot "move" his STAR from one place to another. He must re-apply for the STAR at his new place.
And a STAR discount cannot be simply transferred from one owner to another. You must apply on your own and it takes effect the next tax period.
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| Posted 1/25/06 3:19 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Star Program Question
according to the link i posted above..you are correct pill
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| Posted 1/25/06 3:32 PM |
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oneday
<3
Member since 5/05 4319 total posts
Name:
Pam
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Re: Star Program Question
Posted by DjPiLL
And a STAR discount cannot be simply transferred from one owner to another. You must apply on your own and it takes effect the next tax period.
My friend told me that this year her tax was soo much higher then what she paid last year (she closed in either sept or oct 2004). When she checked into why, it turned out b/c they were taking back taxes due b/c she only paid what the previous owner was paying with the STAR active. So yes, from what I understand, it does not carry over to the new owner, and if you do only pay what they did, you may have to pay back taxes the next year when they figure it out.
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| Posted 1/25/06 4:00 PM |
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krashnburn
I am Batman!
Member since 5/05 4093 total posts
Name:
I'm Batman, I tell you!
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Re: Star Program Question
When I called the assessors office to ask, they said that since the former owner had applied for STAR last year, it would carry over for me for 2006 and I have to fill out the form for 2007 and submit by March. I closed in November 2005.
Message edited 1/25/2006 4:49:43 PM.
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| Posted 1/25/06 4:47 PM |
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ODonnell
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Member since 9/05 5983 total posts
Name:
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Re: Star Program Question
Posted by DjPiLL
Posted by ODonnell
If the current owner of the house has an active STAR discount in place as of your closing date, you should be okay for the next year. BUT CHECK. I wish we knew this at the time of closing
Correct me if I am wrong.... but...
A homeowner cannot "move" his STAR from one place to another. He must re-apply for the STAR at his new place.
And a STAR discount cannot be simply transferred from one owner to another. You must apply on your own and it takes effect the next tax period.
DJ - I am just using the EXACT terms the person at Town of Islip STAR division used on the phone with me. I was none the wiser of this, so perhaps you can check with your town if you find yourself in a similar situation.
* The previous owner had STAR on the property which was effective for the tax year 2004/2005.
* The previous owner moved or switched (they were the two words used) the STAR discount to their new property in February 2005 (which is also in Islip), removing it from their old property, the one we purchased. As the Taxes were paid by the previous owner for the first six months of 2005 and as we paid for the following six months of 2005 at closing, there was no shortfall in ESCROW.
* I know that STAR cannot be switched from one person to another, so we applied for our STAR in June 2005 and received a confirmation that our application was accepted - I now discover that is for 2007. Therefore, we do not receive any STAR discount for 2006 as the deadline for closings is March 1 of any year.
Islip may differ from your town, but I would check
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| Posted 1/26/06 8:23 AM |
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LuckySV
LIF Adult
Member since 10/05 4675 total posts
Name:
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Re: Star Program Question
I think everyone needs to contact the town they live in.
I called the town of Huntington (getting a little freaked with all the posters!!!) and they told me that they rec'd my STAR app (mailed like 2 months ago), that it was approved, but I had STAR for 2005 b/c the previous owners had it. I specifically asked if my app being approved was for 2007 and they said no it's for this year.
I was told more than once that we had STAR b/c the previous owners had it. Maybe each town is different? 
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| Posted 1/26/06 8:58 AM |
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ODonnell
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Member since 9/05 5983 total posts
Name:
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Re: Star Program Question
Posted by npbride
I think everyone needs to contact the town they live in.
I called the town of Huntington (getting a little freaked with all the posters!!!) and they told me that they rec'd my STAR app (mailed like 2 months ago), that it was approved, but I had STAR for 2005 b/c the previous owners had it. I specifically asked if my app being approved was for 2007 and they said no it's for this year.
I was told more than once that we had STAR b/c the previous owners had it. Maybe each town is different?
See that's where my problem is. The previous owner removed the STAR three months before we closed on the house. This is not the only thing they screw-ed us on, so I'm not surprised.
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| Posted 1/26/06 9:00 AM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Star Program Question
i find it hard to believe. yes, it is a local town tax break but it ties in directly to the state. according to the state, it can't be done.
i suppose i'll be making a call to see what kind of story i get
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| Posted 1/26/06 9:03 AM |
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skew
LIF Adult
Member since 5/05 6794 total posts
Name:
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Re: Star Program Question
Posted by DjPiLL
Posted by ODonnell
If the current owner of the house has an active STAR discount in place as of your closing date, you should be okay for the next year. BUT CHECK. I wish we knew this at the time of closing
Correct me if I am wrong.... but...
A homeowner cannot "move" his STAR from one place to another. He must re-apply for the STAR at his new place.
And a STAR discount cannot be simply transferred from one owner to another. You must apply on your own and it takes effect the next tax period.
not in our case. we closed in may (didn't apply for star) and received our 2006 tax bill in december. the star discount is applied under the previous owner.
Message edited 1/26/2006 9:17:14 AM.
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| Posted 1/26/06 9:16 AM |
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LIBOUND
Texting king
Member since 10/05 5289 total posts
Name:
Suzy
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Re: Star Program Question
Posted by ODonnell
Posted by DjPiLL
Posted by ODonnell
If the current owner of the house has an active STAR discount in place as of your closing date, you should be okay for the next year. BUT CHECK. I wish we knew this at the time of closing
Correct me if I am wrong.... but...
A homeowner cannot "move" his STAR from one place to another. He must re-apply for the STAR at his new place.
And a STAR discount cannot be simply transferred from one owner to another. You must apply on your own and it takes effect the next tax period.
DJ - I am just using the EXACT terms the person at Town of Islip STAR division used on the phone with me. I was none the wiser of this, so perhaps you can check with your town if you find yourself in a similar situation.
* The previous owner had STAR on the property which was effective for the tax year 2004/2005.
* The previous owner moved or switched (they were the two words used) the STAR discount to their new property in February 2005 (which is also in Islip), removing it from their old property, the one we purchased. As the Taxes were paid by the previous owner for the first six months of 2005 and as we paid for the following six months of 2005 at closing, there was no shortfall in ESCROW.
* I know that STAR cannot be switched from one person to another, so we applied for our STAR in June 2005 and received a confirmation that our application was accepted - I now discover that is for 2007. Therefore, we do not receive any STAR discount for 2006 as the deadline for closings is March 1 of any year.
Islip may differ from your town, but I would check
It's in Islip, so thanks!!
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| Posted 1/26/06 9:57 AM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Star Program Question
Posted by ODonnell
Posted by npbride
I think everyone needs to contact the town they live in.
I called the town of Huntington (getting a little freaked with all the posters!!!) and they told me that they rec'd my STAR app (mailed like 2 months ago), that it was approved, but I had STAR for 2005 b/c the previous owners had it. I specifically asked if my app being approved was for 2007 and they said no it's for this year.
I was told more than once that we had STAR b/c the previous owners had it. Maybe each town is different?
See that's where my problem is. The previous owner removed the STAR three months before we closed on the house. This is not the only thing they screw-ed us on, so I'm not surprised.
I don't think my previous owner had the STAR either. So I am getting screwed till October. Oh well.... better budget myself for the higher taxes now so when I do get the break it will be a little easier.
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| Posted 1/26/06 11:01 AM |
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ODonnell
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Member since 9/05 5983 total posts
Name:
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Re: Star Program Question
Posted by DjPiLL
Posted by ODonnell
Posted by npbride
I think everyone needs to contact the town they live in.
I called the town of Huntington (getting a little freaked with all the posters!!!) and they told me that they rec'd my STAR app (mailed like 2 months ago), that it was approved, but I had STAR for 2005 b/c the previous owners had it. I specifically asked if my app being approved was for 2007 and they said no it's for this year.
I was told more than once that we had STAR b/c the previous owners had it. Maybe each town is different?
See that's where my problem is. The previous owner removed the STAR three months before we closed on the house. This is not the only thing they screw-ed us on, so I'm not surprised.
I don't think my previous owner had the STAR either. So I am getting screwed till October. Oh well.... better budget myself for the higher taxes now so when I do get the break it will be a little easier.
Call your mortgage company and you might be pleasantly surprised. It turns out we only have to pay $30 extra a month to cover the taxes in ESCROW. I was really panicking there for a few hours yesterday.
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| Posted 1/26/06 11:44 AM |
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