New York State Property Tax Exemptions
There are many options to battle New York’s infamously high property taxes, but the first is always the use of property tax exemptions. The state of New York has a large collection to choose from, though not all will fit your needs as a business owner or homeowner. While it can be a complex issue, know that even basic exemptions can give a solid return, and every option should be explored. Since the majority of New York’s major exemptions have income limits or annual renewals, it is best to check with your local assessor or collector to see what these limits are. Of course, you could also join with O’Connor and let our experts figure this out for you.
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- Simple, online enrollment in just minutes, or call us at 713.290.9700 if you prefer.
- No fees ever unless we reduce your property taxes, not even a nickel. We promise.
- Aggressive property tax consultants with hundreds of years collective experience. We understand the people and process to negotiate lower property taxes for you. Our interests are properly aligned. We never, ever get paid unless you reduce your property taxes.
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The School Tax Relief Program (STAR)
School taxes are the highest property tax that a New York homeowner will pay. The STAR program was introduced to help lower these costs. The STAR program functions like the typical homestead exemption in most states. While originally a standard exemption, STAR has transitioned to a tax credit or rebate. This means that you will receive a payment in the form of a deposit or a check to help offset your property tax costs. However, if you had an exemption applied to your home prior to 2016, you can keep that instead. It is only new homeowners that can only choose the credit option.
There are two types of STAR programs. The first is Basic STAR, which is similar to the standard homestead exemption in most states. This is available to everyone, regardless of age, as long as their yearly income is below $500,000. Then there is Enhanced STAR, which is for homeowners age 65 or older with a combined income under $107,300. This cap will be expanded for the 2026-27 school year to $110,750.
- Basic STAR Benefits: Typically, a tax credit of between $300 and $500. The exemption removes $30,000 from the taxable value of a home.
- Enhanced STAR Benefits: Tax credit usually pays between $800 to $1,500. The exemption removes $86,000 in value.
Senior Citizen Exemption
Unlike STAR, the senior citizen exemption can vary from county to county. Each local government can opt in to this exemption, with most doing so to some degree or another. A law passed in 2025 increased how much taxable value a municipality could exempt from 50% of a home’s value to 65%. Because there can be significant differences in income requirements and the percentage exempted, you should check with your local assessor to see what the senior citizen exemption is in your community.
This exemption applies to all major property tax types, not just school taxes. It also works in conjunction with your STAR exemption and could possibly remove your school tax burden entirely. To qualify, you must be over 65 years old and meet your municipality’s income requirement. This is usually graded on a scale, with lower incomes getting a higher exemption. For example, in Nassau County, the income cap was just set at $58,399, which means all seniors with an income below that will see some kind of reduction if they apply for it.
Basic Requirements
- 65 years or older
- Live in your home for over 12 months
- Meet the income requirements, which are set by your municipality
- Must be renewed every year
Veterans Exemptions
Like the senior exemption, veterans exemptions are up to the discretion of local municipalities. These apply to most forms of property taxation, except for special assessments. There are three different veteran exemptions, though only one can be applied at a time. To qualify, you must have been honorably discharged and have the requisite paperwork, such as a DD 214.
Alternative Veterans Exemption: This is reserved for veterans whose service came during an active period of war, such as Vietnam, World War II, or the Persian Gulf. This exemption reduces your taxable value by a percentage prescribed by your local jurisdiction.
Cold War Veterans Exemption: This exemption has a 10-year time limit and is for any veteran that served between 1945 and 1991. This grants a reduction that ranges from 10% to 15%. This can be enhanced if you have a service-related disability.
Eligible Funds Exemption: A partial exemption for property purchased with specific funds, such as a pension, bonus, or insurance money.
Agricultural Property Tax Exemptions
Agriculture and farming are large parts of the New York economy, and farmers and ranchers can see bountiful reductions on their taxes thanks to many exemptions and other laws. Agricultural districts allow farmers to operate with much lower property taxes, along with other regulatory protections. Agricultural assessments are applied to farmland both inside and outside of agricultural districts, which assess parcels differently than they would normal real estate. To qualify for an agricultural assessment and many exemptions, you must meet certain requirements:
- Seven or more acres of land must be used for farming over the past two years.
- Gross agricultural sales of $10,000 or more; property smaller than seven acres can qualify if gross sales are $50,000 or more.
- Properties dedicated to boarding horses must board 10 or more horses.
- Start-up farming properties must have $10,000 in gross sales or $50,000 for properties under seven acres.
There are also exceptions for certain agricultural buildings. These exemptions last for 10 years and cover new construction only. These tax cuts begin one year after the buildings have been completed:
- ✓ The structure must be essential to the operation of a farm of at least five acres that is engaged in for-profit agricultural or horticultural production.
- ✓ It must be used directly for producing, raising, or storing agricultural products for sale, or for housing essential farm employees.
There are also permanent exemptions for certain buildings, such as silos, greenhouses, milk storage tanks, and other buildings related to income production.
Exemption for Persons with Disabilities and Limited Incomes
Another exemption that is predicated on your local jurisdiction’s rules, this allows people who are legally disabled to get a significant portion of their property exempt from taxes, up to 50% of a home’s value. This comes with income requirements baked in, which can vary wildly between counties. This cannot be applied with the senior citizen exemption. To qualify, you must have documentation that confirms your disability, along with proof of your income. The income cap is set between $3,000 and $50,000, though you may get a sliding scale of value reductions above $50,000, all the way to $58,000. This must be renewed every year.
Get Expert Help with Exemptions and Grievances from O’Connor
There are multiple exemptions in the state of New York. Many of them can change depending on the county, while others have strict income or other rules. These can be hard to follow and deadlines can sneak up on you. Many also require an annual renewal as well, which adds to the stress. Top it off, exemptions are only a part of an optimal plan to lower your taxes. There are also property tax grievances, which can pair with exemptions to get you the best reductions possible.
O’Connor is here to assist you through both exemptions and grievances. With a branch office in the heart of Long Island, we have local support for all of your property tax needs. Our experts will help analyze your assessment, consult on exemptions, and gather evidence and coordinate your property tax grievance. We at O’Connor offer our New York clients the total package when it comes to finding tax relief. We offer residential services in Nassau, Suffolk, and Westchester counties, while we offer commercial grievances and support in New York City. There is no cost to join, and you will only be charged a contingency fee if we are successfully able to lower your taxes.
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