STAR Program Offers $1,000 Checks From $2.3 Billion Fund: Know Application Process

New Yorkers facing financial pressures now have the opportunity to receive direct payments of over $1,000 through the School Tax Relief (STAR) Program.

This initiative, supported by Governor Kathy Hochul and state officials, aims to help millions of residents manage the rising cost of living by providing essential tax relief.

If you haven’t applied yet, the program is still accepting applications, so now is the time to act.

Here’s everything you need to know about the STAR Program and how to benefit from it.

What Is the STAR Program?

The STAR Program is designed to provide property tax relief to eligible homeowners and senior citizens across New York State.

With a significant $2.3 billion fund allocated for 2024, nearly three million New Yorkers are expected to benefit from the program.

This initiative is part of New York’s broader strategy to reduce the financial burden on residents, especially as the cost of living continues to rise.

Key Points of the STAR Program:

• Direct payments of $1,000 or more to eligible recipients
• Funded by a $2.3 billion budget for 2024
• Benefits up to three million New Yorkers
• Applications are still open
• Helps counter the increasing cost of living

Governor Hochul has emphasized the importance of the STAR Program, stating that it helps working families, senior citizens, and low-income households manage economic challenges, including property taxes and other living expenses.

Who Is Eligible for the STAR Program?

To receive STAR benefits, residents must meet specific eligibility criteria based on income and homeownership status.

The STAR Program is available to homeowners with household incomes below $500,000, as well as senior citizens aged 65 or older who meet the income threshold. Here’s a closer look at the two main types of recipients:

1. Basic STAR (for Homeowners)

• Income Limit: Households with incomes under $500,000.
• Benefit: Recipients can expect several hundred dollars in property tax relief.

2. Enhanced STAR (for Seniors)

• Income Limit: Seniors aged 65 and over with household incomes under $98,700.
• Benefit: Eligible seniors may receive over $1,000 in tax relief.

The program has already benefited two million New Yorkers, and an additional one million are expected to receive payments this year.

The exact amount each recipient receives will depend on income and other qualifying factors.

How to Apply for the STAR Program

Applications for the STAR Program are still open, and it’s a straightforward process.

You can apply for benefits through the STAR digital portal on the official New York State Department of Taxation and Finance website. If you prefer traditional methods, you can still opt to receive a check in the mail.

Steps to Apply:

1. Visit the official STAR portal: https://www.tax.ny.gov/pit/property/star/.
2. Enter your details to apply for either Basic or Enhanced STAR.
3. Opt for direct deposit to receive your funds faster or choose a mailed check.
4. For Long Island residents, you can also apply to have the funds credited directly toward your annual school tax bill.

Direct Deposit Option:

For the first time, recipients can choose to receive their STAR payments via direct deposit, a faster and more convenient option compared to receiving a mailed check. This is particularly useful for those who want quicker access to their relief funds.

Payment Timeline

The STAR Program aims to distribute all funds by September 30, 2024, aligning with the most common school tax due date across the state.

However, payment timelines may vary depending on where you live, with some areas, like Long Island, having tax due dates later in the fall.

If you’re receiving payments through direct deposit, expect the funds to appear in your bank account around the payment date. If you opt for a mailed check, ensure your address is up to date with the state to avoid delays.

What to Expect from Your Payment

For eligible recipients, the STAR Program offers significant financial relief. Here’s what you can expect:

• Individual homeowners can receive several hundred dollars in relief, with seniors getting checks of over $1,000.
• Married couples and households may receive combined benefits based on income and other qualifications.

The STAR Program’s relief is particularly timely as the cost of living continues to rise across the U.S. Governor Hochul has pointed out that these payments are part of a broader effort to help New Yorkers with everything from tax credits to childcare assistance and food benefits.

If you’re a homeowner or senior in New York State, the STAR Program offers a valuable opportunity for financial relief during these challenging times.

With $1,000 checks available and applications still open, it’s important to act quickly. Whether you choose to receive your payment through direct deposit or a mailed check, don’t miss out on your share of the $2.3 billion fund.

Visit the official website to apply, and take advantage of the tax relief that’s already helping millions of New Yorkers manage their cost of living.

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