Posted By |
Message |
BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name: proud mommy
|
Another STAR question
Sorry to add to the STAR questions but I am really new at this process and feel clueless! Some houses we are looking at give the true taxes and taxes with STAR. If the current owners have STAR, can they transfer the STAR to us as new buyers? And do you have to reapply every year? Lastly, what if the current owner is older and has the enhanced STAR but we would not qualify for that, would the STAR transfer to us anyway (not as enhanced obviously)?
TIA
|
Posted 10/25/07 10:47 AM |
|
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
VickiC
Rocking the party
Member since 5/05 4937 total posts
Name: Vicki
|
Re: Another STAR question
STAR does not transfer from buyer to buyer - You need to reapply. Once you apply for Basic STAR, you don't have to apply again. If the house currently has Enhanced STAR, that will come off - the town is supposed to be notified in writing when there is a change in the Deed. I would suggest looking at your town's website for the rules. The TOB was pretty good with explaining everything.
|
Posted 10/25/07 10:52 AM |
|
|
PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name: Betsy
|
Re: Another STAR question
If the previous owners have STAR, then it will be applied to the taxes when you take over the house.
HOWEVER, it will end in the next tax season if you DON'T apply for STAR as soon as you get the house.
Each Town has it's own deadline - Brookhaven is March 1.
Call the assessor's office at your local Town to get the application and the deadline.
You'll need a copy of the house deed (you'll get this at closing), and a copy of your drivers license from you and your DH with the NEW house address on the license.
As for the enhancement - that will go away as soon as the assessor's office completes your STAR application after submission.
Hope this helps!
|
Posted 10/25/07 10:53 AM |
|
|
BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name: proud mommy
|
Re: Another STAR question
Thank you.
|
Posted 10/25/07 11:06 AM |
|
|
Potentially Related Topics:
Currently 870303 users on the LIFamilies.com Chat
|