the STAR credit program you will receive a check in the mail from the Tax Department to apply to your school taxes. The value of the STAR credit savings may increase by as much as 2% each year.
the STAR exemption program you receive a direct reduction on your school tax bill in the form of a property tax exemption. The value of the STAR exemption savings will not increase.
Property owners who wish to switch from the Exemption to the Credit can go to www.tax.ny.gov and click on "Switch to the STAR Credit" the STATE will notify the City to remove your STAR Exemption. You will receive a check from the STATE prior to the School Tax bill going out.
**Please Note: Switching is optional and you cannot switch back to the exemption at a later time.