Closing on New Home / STAR PROGRAM

When you go to close on your first home, do they already calculate your taxes for the full amount or are you able to apply for STAR and take advantages of the discount right away.

How does this program work?

Re: Closing on New Home / STAR PROGRAM

You need to apply for it after you own the house. The county has the forms online and you need to fill them out and send a copy of the deed showing the house in your name along with proof of residency.

Re: Closing on New Home / STAR PROGRAM

Your taxes will be based on the star sometimes if you are in the middle of a tax year when you purchase you might get lucky and get the benefit of the seller's star when you own it. We closed in April and when our tax bill came in December it still had the old owner's name on it but we were able to get their star deduction. I applied for Star right after we closed so the following year the bill was in our names and we were still getting star.

Re: Closing on New Home / STAR PROGRAM

If the original owner's had STAR, you will be covered for the upcoming year, since the deadline to apply already passed, and the original owners applied for it.

As soon as you close, you should apply yourself for the next year, to ensure that there are no lapses.

If they did apply, you might want to request a copy of their receipt at closing. Our buyer requested it, to ensure that the benefit didn't fall through the cracks.

Message edited 8/30/2008 9:45:32 AM.