Property owners who wish to stop receiving the STAR exemption can request that the exemption be removed. The removal procedure varies based on when the property owner asks for the exemption to be removed.
Please note that the renunciation of a STAR exemption is irrevocable. This includes property owners who renounce their STAR exemption to switch to the credit; they cannot switch back to the exemption at a later time.
In addition, property owners who are seeking to renounce a STAR exemption in order to receive the STAR credit for that year must do so prior to December 31 of that year. For example, if a property owner wants to receive the 2018 STAR credit but has already received the STAR exemption on the 2018 assessment roll, the owner is required to renounce the exemption by December 31, 2018.
There is a $500 fee unless the RP-496 is being filed to renounce the STAR exemption to claim the STAR Credit. If the renunciation is for purposes of claiming the STAR credit only, and no other exemptions are being renounced, no fee is due.