HOME IMPROVEMENT PROPERTY TAX EXEMPTIONS
The Home Improvement Exemptions is an eight year decreasing exemption on alterations, reconstructions or improvements which increase the assessed value of a one- or two-family home. In the first year, 100% of the assessed value of the improvement is exempt. In the second year, 87.5%, in the third year, 75% and so on. To receive an application, write to the Nassau County Department of Assessment at 240 Old Country Road, Mineola, NY 11501, or call (516) 571-1500.
VETERANS’ PROPERTY TAX EXEMPTION
In Nassau County and the Town of Oyster Bay, all Veterans applying for the first time for a Veterans’ Real Property Tax Exemption will receive an exemption based on the type of service they rendered to our country during wartime. This exemption is called the Alternative Veterans’ Exemption. Like the Eligible Funds Exemption it replaces, it applies to county and general municipal taxes, including village taxes (if the village has opted in). Shool taxes may also be reduced in school districts that have opted to offer the reduction. It DOES NOT apply to special district taxes. Request an application from the Nassau County Department of Assessment, Veterans Exemption Division, 240 Old Country Road, Mineola, NY 11501, or call (516) 571-1500.
The Cold War Veterans’ Exemption provides a property tax exemption to veterans who served during the Cold War period. An additional exemption is provided to disabled veterans who served during this period. The basic exemption is limited to the primary residence of the veteran, and is applicable only to general taxes. School taxes may also be reduced in school districts that have opted to offer the reduction. It DOES NOT apply to special district taxes. Request an application from the Nassau County Department of Assessment, Veterans Exemption Division, 240 Old Country Road, Mineola, NY 11501, or call (516) 571-1500.
STAR EXEMPTION PROGRAM AND THE NEW STAR CREDIT
Effective January 2, 2015, the STAR Program was changed from a property tax exemption to a Personal Income Tax Credit/Check Program for first time applicants. According to the new law, all new STAR recipients will be issues a check directly from New York State instead of receiving a school property tax exemption. The amount of the benefit will be the same.
The eligibility requirements are the same for both the STAR Credit/Check and the STAR Property Tax Exemption. To be eligible, you must own your home and it must be your primary residence.
The BASIC STAR is for all homeowners, regardless of age and the total income of the owners must not exceed $500,000, including senior citizens whose combined income exceeds $86,000.
The ENHANCED STAR is available to senior citizen homeowners who are 65 years of age and whose annual income does not exceed $86,000. Senior citizens whose annual income exceeds $86,000 will still be eligible for the BASIC STAR.
To register with the New York State Tax Department to receive a STAR check visit www.tax.ny.gov or call (518) 457-2036.
SENIOR CITIZEN REAL PROPERTY TAX EXEMPTION
The Senior Citizen Tax Reduction Program allows persons over the age of 65, who fulfill certain criteria, to receive up to 50% reduction on the taxable values of countywide, Townwide and certain school districts’ real property tax values. The amount of actual reduction varies based on income and is dependent upon whether the taxing jurisdiction agencies in which the property is located offer reductions. Request an application from the Nassau County Department of Assessment, Senior Citizens Division, 240 Old Country Road, Mineola, NY 11501, or call (516) 571-1500.