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+--- Thread: Hey, NYC members, I have a question about property taxes on a home (/showthread.php?tid=263674)
Hey, NYC members, I have a question about property taxes on a home - rgG - 01-27-2022
My daughter and her SO just bought their first home, in Brooklyn.
Here in GA we have something called a homestead tax exemption that reduces your property taxes if it is your primary residence, and not rental or commercial property. You have to file for it once, then it renews each year.
Is there anything like that in NYC?
When I googled Homestead Exemption for NYC it brought up something about protecting your home if you filed for bankruptcy, so it obviously isn’t called that.
Any info would be appreciated. I was going to give them a heads up, if they needed to file any kind of paperwork.
Re: Hey, NYC members, I have a question about property taxes on a home - GGD - 01-27-2022
Start on this page, it might be called the STAR program. I know that's what my parent's house gets, they have a few different levels of that program based on a number of factors.
https://www1.nyc.gov/site/finance/benefits/property-related-benefits.page
Re: Hey, NYC members, I have a question about property taxes on a home - rgG - 01-27-2022
GGD wrote:
Start on this page, it might be called the STAR program. I know that's what my parent's house gets, they have a few different levels of that program based on a number of factors.
https://www1.nyc.gov/site/finance/benefits/property-related-benefits.page
Thanks so much!
I will give it a look see.
Re: Hey, NYC members, I have a question about property taxes on a home - mattkime - 01-27-2022
rgG wrote:
My daughter and her SO just bought their first home, in Brooklyn.
I was never willing pay what the market was asking, not even a little bit.
Re: Hey, NYC members, I have a question about property taxes on a home - rgG - 01-27-2022
mattkime wrote:
[quote=rgG]
My daughter and her SO just bought their first home, in Brooklyn.
I was never willing pay what the market was asking, not even a little bit.
Yeah, it boggles my mind, but with rents going through the roof and they were able to get a very, very low interest rate, I guess it makes sense.
Re: Hey, NYC members, I have a question about property taxes on a home - testcase - 01-27-2022
NY does NOT have a "Homestead" tax break per se. I don't know if the STAR Program will apply to your daughter but it's certainly worth a look.