NYC residential property tax exemptions | DOF

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NYC residential property tax exemptions

The City of New York offers tax break down known as exemptions to seniors, veterans, clergy members, people with disabilities, and others.

Please visit the Property Tax Benefits page for the most up-to-date information about property tax exemptions.

An exemption is a type of tax break that reduces your property’s assessed value before your taxes have been calculated. Most exemptions are subtracted from the assessed value of your home, reducing your property’s taxes.

Download a property tax exemptions brochure here.

Finding the right exemption for you

Senior Citizen Homeowners' Exemption (SCHE)

Eligibility

Available to owners 65 or older with annual income of $58,399 or less

Benefit

Reduces assessed value by up to 50%

To apply

Visit the Senior Citizen Homeowners’ Exemption page.

Deadline

March 15

Disabled Homeowners' Exemption (DHE)

Eligibility

Available to owners with disabilities and annual income of $58,399 or less

Benefit

Reduces assessed value by up to 50%

To apply

Visit the Disabled Homeowners’ Exemption page.

Deadline

March 15

Veterans Exemption

Eligibility

Available to certain owners who are veterans, spouses/widow(er)s of veterans, or Gold Star parents

Benefit

Level of benefit varies

To apply

Visit the Veterans Exemptions page.

Deadline

March 15

Clergy Exemption

Eligibility

Available to certain members of the clergy or their unremarried surviving spouses

Benefit

Reduces assessed value of home by $1,500

Tax savings: approximately $256/year

To apply

Visit the Clergy Exemption page.

Deadline

March 15

Disabled Crime Victim and Good Samaritan Exemption

Eligibility

Available to crime victims and those injured trying to prevent crime or assist a victim. Civilians only. Owner must have modified home to accommodate disability.

Benefit

Compensation for cost of renovations to accommodate disability.

To apply

Visit the Disabled Crime Victim and Good Samaritan Exemption page.

Deadline

March 15

Special information for STAR (School Tax Relief) and Enhanced STAR

The School Tax Relief (STAR) and Enhanced School Tax Relief (E-STAR) benefits offer property tax relief to eligible New York homeowners. STAR and E-STAR can be issued as a credit by the State of New York, or, in some cases, as a tax exemption by the City of New York.

While most property owners must apply to receive the credit from the state, some property owners can apply to receive STAR as a property tax exemption. Visit the School Tax Relief page for more information.

School Tax Relief (STAR)

Eligibility

Credit available to owners with annual income of $500,000 or less

If eligible for the exemption with DOF, available to owners of houses, co-cops, and condos with an annual income of $250,000 or less

Benefit

Tax savings: approximately $300/year

To apply

Visit www.tax.ny.gov or call (518) 457-2036 for the STAR credit. (If you currently receive the STAR exemption, you can apply for E-STAR with the Department of Finance: www.nyc.gov/star.)

Deadline

March 15 (to apply for STAR exemption with the Department of Finance)

Note: There is no deadline for STAR credit.

Enhanced School Tax Relief (E-STAR)

Eligibility

Available to owners 65 and older with annual income of $98,700 or less

Benefit

Tax savings: approximately $650/year

To apply

Visit www.tax.ny.gov or call (518) 457-2036. (If you currently receive STAR, you can apply for E-STAR with the Department of Finance: www.nyc.gov/star.)

Deadline

March 15 (to apply for E-STAR with the Department of Finance)