With Registration Deadline Approaching, Thousands of City Homeowners Stand to Lose Out on State Tax Break
Even if Dolly Lenz doesn’t believe that de Blasio will “kill the goose who laid the golden egg,” there has been much terrified speculation in the real estate industry about what impact the mayor-elect will have on the real estate market. Still, before pitching a fit about potential tax hikes, New York City homeowners would do well to take advantage of the tax breaks that are currently available to them.
Only half of New York City residents currently receiving the Basic STAR state property tax break this year have registered to receive the break this coming year, according to the Independent Budget Office—far below the statewide average of 66 percent. In order to receive the benefit, homeowners must register by December 31. Read More