New York is planning a new round of stimulus payments. You read that right, its well-known STAR program to ease the tax burden for those who can afford a home has a new chance to receive direct checks of up to $1,500 to alleviate inflation and economic uncertainty.
The idea behind this aid is quite simple: to offset the weight of school taxes that many homeowners have to face every year. And now that inflation is squeezing, the measure makes even more sense. Governor Kathy Hochul wanted to take a step forward just when many federal funds are being cut, and the result is this: thousands of people will see real money arrive in their account or mailbox.
What is the STAR program?
The STAR program (School Tax Relief) is a tax relief system for homeowners in New York. Instead of lowering taxes, its goal is to compensate part of the high school taxes that residents must pay to fund public education, so the state returns part of this money in checks or credits.
Of course, since STAR was created in 1997, it has become one of the most popular tax programs in the state of New York. Middle-income families, who are the ones who suffer the most from these tax pressure problems, are the ones who most appreciate STAR’s existence!
Who qualifies for this new round of payments?
We are already in phase two of the program, and it is aimed at homeowners living in communities with school taxes that are due between August and September. That is, not all counties in the state will receive this benefit at the same time, but it depends on each municipality’s tax calendar.
However, to receive the payment, you must be registered in the STAR system. If you were already registered in previous phases, it is most likely that you will be included automatically. But just in case, the best thing is to go to the website of the New York State Department of Taxation and Finance and check if everything is in order.
How much money can be received?
The amounts vary depending on the beneficiary category, but in general:
- Standard homeowners will receive between $350 and $600, depending on the value of their home and their municipality.
- In the case of seniors, the payments will be even larger: between $700 and $1,500, which represents a significant relief for many pensioners.
The final amount will vary based on income, residency duration, property type… But the main idea is always that those who need it most are the ones who receive the most support.
A boost to the economy
Governor Hochul has clearly said that she wants this money to go directly to families, with no detours. “This program provides the necessary school tax relief to millions of homeowners. My administration is fulfilling its promise to help families directly” she stated.
And that, in the current context, makes a difference. While in other parts of the country aid is being cut or payments are delayed, New York is taking the lead and trying to protect those who have the hardest time making ends meet.
What to do if you haven’t received the payment?
If you think you are eligible but still haven’t received your check or deposit, wait and don’t get nervous. The first step is to verify your enrollment in the STAR program, remember you can do it online by entering your property details in the state’s official portal, but you can also contact the Department of Finance to review your individual case.
The STAR program continues to be a key tool to protect New York homeowners from the burden of school taxes. Imagine receiving up to $1,500! Don’t miss out and make the most of it, that’s what it’s for!