Assemblyman Anthony Palumbo will host an event Wednesday evening in Peconic to review changes to the STAR rebate program, his office announced.
Mr. Palumbo (R-New Suffolk) will be joined by Southold Town Supervisor Scott Russell and Southold Town assessors to explain what’s new following the April passage of the New York State budget.
Many of the changes this year relate to the state’s long-term goal of switching from an exemption program on your school tax bill to a STAR credit check system issued by the state Department of Taxation and Finance, according to the agency’s website.
Property owners with a household income below $250,000 can now register for a STAR credit to receive a check instead of the exemption. The value of the STAR credit savings may increase by as much as 2% each year as the exemptions remain flat, according to the state. Property owners with a household income between $250,000 and $500,000 are only eligible for the credit check and not the exemption program.
The event, which will be held at 7 p.m. at the town’s Peconic Lane Community Center, will include a question and answer session.
For more information about the event, please call Palumbo’s district office at 631-727-0204 or email [email protected].