NY DTF RP-425-B 2024-2025 free printable template
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Department of Taxation and Finance
Office of Real Property Tax ServicesApplication for Basic STAR Exemption
for the 20252026 School YearRP425B
(7/24)Note: The STAR exemption program is closed to new
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How to fill out NY DTF RP-425-B
01
Obtain the NY DTF RP-425-B form from the New York State Department of Taxation and Finance website or local office.
02
Enter your name and address in the designated fields at the top of the form.
03
Provide your Social Security number or Employer Identification Number as required.
04
Fill out the sections regarding your business type and the specific tax credit or benefit you are applying for.
05
Include any required attachments or documentation that support your application.
06
Review the form for accuracy and completeness before submitting.
07
Sign and date the form at the bottom.
Who needs NY DTF RP-425-B?
01
Businesses or individuals who are applying for certain tax credits or benefits related to personal income tax in New York State.
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People Also Ask about
What is the income limit for enhanced star in NY?
Enhanced STAR provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes: $92,000 or less for the 2022-2023 school year, $93,200 or less for the 2023-2024 school year.
Do you have to apply for NYS STAR program every year?
To receive the STAR exemption, taxpayers must file an application with their local assessor. Property owners who are granted the Basic exemption generally do not need to reapply in subsequent years. However, property owners will need to notify their assessor if their primary residence changes.
How do I find out if I'm in the STAR program?
Email the NYC Department of Finance if you have question about STAR. Ask about the School Tax Relief Program (STAR). Contact the New York State Department of Taxation and Finance at 518-457-2036 for more information about the New York State STAR tax credit. Find a center to get help in person.
Who qualifies for STAR exemption in NY?
The property must be the primary residence of at least one age-eligible owner. All owners must be at least age 65 as of December 31 of the year of the exemption, except where the property is jointly owned by only a married couple or only siblings, in which case only one owner needs to meet the age requirement.
Do I have to apply for NYS star every year?
To receive the STAR exemption, taxpayers must file an application with their local assessor. Property owners who are granted the Basic exemption generally do not need to reapply in subsequent years. However, property owners will need to notify their assessor if their primary residence changes.
Who gets NYS STAR rebate checks?
You may be eligible for STAR if your home is your primary residence, you own it, and your income is less than $500,000. To confirm your eligibility, you must register for the STAR credit.
Who qualifies for NYS real property tax credit?
been eligible for either the Basic or Enhanced STAR exemption or credit, had an income of $275,000 or less, and. paid school property taxes for the applicable year. Income2018 percentage of your Basic STAR savings2019 percentage of your Basic STAR savingsbetween $150,000 and $200,00025.0%35.0%3 more rows • May 26, 2022
How to apply for NYS Enhanced STAR Program?
To apply for the Enhanced STAR exemption, submit the following to your assessor: Form RP-425-IVP, Supplement to Form RP-425-E (include the Social Security numbers of all owners of the property and any of their spouses who reside at the property); and. Form RP-425-E, Application for Enhanced STAR Exemption.
How do I apply for a star in New York State?
New STAR applicants must register with New York State directly for the Personal Income Tax Credit /Check Program by telephone at (518) 457-2036 or online. NYS will determine a First-Time/New homeowner's eligibility for the Basic or Enhanced STAR Tax Credit/Check Program.
How is NYS enhanced star calculated?
The Enhanced STAR exemption savings amount is the lesser of: the Enhanced STAR exemption amount multiplied by the school tax rate (excluding any library levy portion) divided by 1000; or. the Maximum Enhanced STAR exemption savings; or. the total amount of school taxes owed prior to the reduction for the STAR exemption
Who is not eligible for New York's star program?
The property must be the primary residence of at least one age-eligible owner. All owners must be at least age 65 as of December 31 of the year of the exemption, except where the property is jointly owned by only a married couple or only siblings, in which case only one owner needs to meet the age requirement.
Is there a property tax break for seniors in NY?
Local governments and school districts in New York State can opt to grant a reduction on the amount of property taxes paid by qualifying senior citizens. This is accomplished by reducing the taxable assessment of the senior's home by as much as 50%.
Is NYS STAR program being discontinued?
The STAR exemption program is closed to all new applicants.
Who is eligible for the NYS Property Tax Relief Credit?
You may be eligible for STAR if your home is your primary residence, you own it, and your income is less than $500,000. To confirm your eligibility, you must register for the STAR credit.
How much is star exemption in NY?
Basic STAR is for homeowners whose total household income is $500,000 or less. The benefit is estimated to be a $293 tax reduction. Enhanced STAR is for homeowners 65 and older whose total household income for all owners and spouses who live with them is $92,000 or less.
What is the income limit for enhanced star in NY 2022?
Enhanced STAR provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes: $92,000 or less for the 2022-2023 school year, $93,200 or less for the 2023-2024 school year.
How do you know if you are in the STAR program?
If you are registered for the STAR credit, the Tax Department will send you a STAR check in the mail each year.
Do I qualify for the Star credit in NY?
To be eligible for Basic STAR your income must be $250,000 or less. You currently receive Basic STAR and would like to apply for Enhanced STAR. You may be eligible for Enhanced STAR if you will be 65 or older in the calendar year in which you apply.
How do I apply for NYS STAR exemption?
To apply for the Enhanced STAR exemption, submit the following to your assessor: Form RP-425-IVP, Supplement to Form RP-425-E , and. Form RP-425-E, Application for Enhanced STAR Exemption (include the Social Security numbers of all owners of the property and any of their spouses who reside at the property).
How do you qualify for the STAR program in NY?
You can receive the STAR credit if you own your home and it's your primary residence and the combined income of the owners and the owners' spouses is $500,000 or less. STAR exemption: a reduction on your school tax bill.
How does the New York State STAR program work?
What is STAR? STAR is the New York State School Tax Relief program that provides an exemption from school property taxes for owner-occupied, primary residences. This state-financed exemption is authorized by section 425 of the Real Property Tax Law.
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What is NY DTF RP-425-B?
NY DTF RP-425-B is a form used by taxpayers in New York to claim a sales tax exemption for certain purchases related to manufacturing, research and development, and other specific activities.
Who is required to file NY DTF RP-425-B?
Businesses or organizations that are engaged in manufacturing, research, or development and wish to claim sales tax exemptions for qualified purchases are required to file NY DTF RP-425-B.
How to fill out NY DTF RP-425-B?
To fill out NY DTF RP-425-B, provide the legal name and address of the purchaser, the type of business, a description of the property purchased, and indicate the exemption reason. Sign and date the form before submitting it.
What is the purpose of NY DTF RP-425-B?
The purpose of NY DTF RP-425-B is to allow eligible businesses to claim exemptions from sales tax for purchases of specific property and services that are directly related to their qualifying activities.
What information must be reported on NY DTF RP-425-B?
The form requires the legal name, address, nature of the business, description of the purchases, and the reason for the exemption to be reported.
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