If you own your home in Staten Island or Brooklyn, your annual property tax bill is one of the largest checks you write all year. New York runs three of the country’s largest tax relief programs — and a surprising number of homeowners either don’t know they qualify or never applied. Combined, these programs save the average eligible NYC homeowner $400 to $4,000+ per year, every year, for as long as they own the home.
Basic STAR (School Tax Relief)
Basic STAR reduces the school tax portion of your property tax bill. Eligibility requirements are simple: own the home, live in it as your primary residence, and have a combined household income under $500,000. Most NYC homeowners now receive STAR as a credit (a check or direct deposit from NYS) rather than as an exemption applied directly to the bill — but the savings are similar. For 2025-26, NYC’s Basic STAR translates to roughly $300 in annual savings.
Enhanced STAR for Seniors 65+
Enhanced STAR is the upgraded version for homeowners 65 or older. To qualify, all owners must be 65+ (or, if married, at least one spouse must be 65+), the home must be your primary residence, and your combined household income must be under $107,300 for 2025. Savings roughly double Basic STAR — typically $650 to $700 per year. You re-verify income annually through the Income Verification Program (IVP). If your spouse is on title and is 64, you wait until they hit 65 to upgrade.
Alternative Veterans Exemption (NYC)
This is the most common veterans property tax benefit and it stacks on top of STAR. NYC offers three tiers:
- Wartime service: 15 percent assessed-value reduction, capped at $54,000 of AV.
- Combat zone service: An additional 10 percent reduction, capped at $36,000.
- Service-connected disability: An additional reduction equal to half your VA disability rating multiplied by AV, capped at $180,000.
The Veterans Exemption applies to the city tax portion (not school), so it works alongside STAR rather than overlapping. A 65+ wartime combat veteran with a 30% disability rating can stack Enhanced STAR + wartime + combat + disability for total annual savings often exceeding $3,000 to $5,000.
Run Your Numbers
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Common Questions
Do I have to reapply each year? Basic STAR — usually no, once you’re enrolled. Enhanced STAR — yes, annual income verification is required. Veterans — once you’re approved, the exemption stays in place for as long as you own the home.
What about co-ops and condos? Both qualify for STAR and Veterans. For co-ops, the savings flow through your maintenance reduction. For condos, they appear on your tax bill directly.
If I sell, does the exemption transfer to the buyer? No. STAR and Veterans Exemptions are tied to the individual owner-occupant. Buyers must apply on their own. This is why a buyer should never assume the seller’s tax bill carries over.
Application Deadline
March 15. Every year. New homeowners should apply as soon as they close — STAR registers through tax.ny.gov/star and Veterans through NYC Department of Finance Form RPTL-458-a. If you missed this year’s deadline, apply for next year now while it’s on your mind.
Want help confirming what you qualify for? Email me with your situation and I’ll point you to the right form.
