Assembly Passes Legislation to Provide Tax Relief

Eligible Broome homeowners will receive an average credit of $229

Assemblyman Donna Lupardo (D-Endwell) announced the Assembly passed bipartisan legislation creating a STAR personal income tax credit to replace the property tax rebate currently contested by the governor (A.11804).

The original measure – which the governor is blocking – would have provided property tax rebate checks to New York homeowners. However, Assemblywoman Lupardo said that the new proposal returns money directly back to all STAR-eligible homeowners and working families, where it is needed most.

The personal income tax credit would allow taxpayers to claim the credit in the fall prior to filing their tax returns the following April. In Broome County, homeowners eligible for the Basic STAR exemption would receive an average credit of approximately $229 and those eligible for the senior exemption would receive approximately $351.

“This new measure is a compromise, but the intent of the original rebate is still being honored,” Assemblyman Lupardo said. “By providing a credit homeowners can claim well before the tax deadline, New Yorkers can get their cash back before winter causes more expensive utility bills.”

Current STAR recipients will be mailed an application in September which must be completed by November 15 to be eligible to receive the advanced credit. Homeowners who have not applied for STAR exemptions will also be able to apply through an established process to determine eligibility for an advanced credit. Homeowners can also wait to apply for the credit when they file their taxes next year.

“Broome families need tax relief now and this compromise breaks the impasse and puts money back into the pockets of Broome homeowners,” Assemblywoman Lupardo said.

Assemblywoman Lupardo noted that she anticipates the Senate passing the legislation early this week.