Hey, NYC members, I have a question about property taxes on a home

[rgG]

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.

[GGD]

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/benefi...efits.page

[rgG]

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/benefi...efits.page

Thanks so much!
I will give it a look see.

[mattkime]

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.

[rgG]

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.

[testcase]

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.