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Exemptions


(Return to the Assessor's Page)

Listed below are the exemptions the Town of Newstead offers its residents. Because exemptions directly affect your tax bill, careful attention should be paid to the eligibility requirements.

EXEMPTION APPLICATIONS ARE TO BE SUBMITTED AT THE TOWN ASSESSOR'S OFFICE OCTOBER 1 - MARCH 1 EACH YEAR.

Basic STAR  (School tax only)                                             NYS STAR Pamphlet

This exemption value is $30,000 off your assessed value

Basic STAR Requirements:

    • Own the home or life use and it is your primary residence
    • Does not receive exemptions on any other property (except agricultural)
    • Household income less than $500,000/year                                                                                                                                
  • RP425 is the application needed to apply for the Basic STAR exemption (under age 65)
    • include a copy of your NYS Driver's License with current address or your Voter's registration card)             

Sr. Enhanced STAR   (School tax only)                            Senior Citizen's Exemption Pamphlet

This exemption value is $65,300 off your assessed value for 2015

Sr. Enhanced STAR requirements:

    • Renew Annually unless you sign up for the Income Verification Program (see below)
    • Age 65 by 12/31 of the year exemption is due
    • Own the home or life use and it is the primary residence of all owners 
    • Does not receive exemptions on any other property (except agricultural)
    • 2013 Income did not exceed $83,300      
  • To apply, please submit this pink "NEW" application RP-467 with:
    • photo ID/NYS Driver's License as proof of residency and age
    • proof of ownership
    • income (federal tax return or if you don't file, please bring your 1099s)                                                   OR 
  • To renew your exemption, submit this yellow renewal application rp-425-rnw with:
    • income (federal tax return or if you don't file, please bring your 1099s)                                                 
    • To figure your income: (Less than $83,300/year combined income for all owners and their spouses)
      • Adjusted gross income minus taxable IRA distributions (*copy of IRA 1099s are required)                     

If you are 65 or older and your income is between $32,400 and $83,300, you may sign up for the Income Verification Program which enables you to continually receive the Enhanced STAR WITHOUT renewing each year. You will need the following: 

  • white income verification program  (including your social security number & signatures of all owners) with:           
    • income (federal tax return or if you don't file, please bring your 1099s)
    • new pink STAR application
    • Driver's License                                                DEADLINE 9/26
    • Bill of Sale (Manufactured Home Owners only)

(*NOTE: you will be notified each year if you have or have not been approved by NYS.  However, you will not receive additional low income Senior discounts (income below $32,400) unless you register at the Town Assessor's office)

AGED or SENIOR - Low Income   (County/Town, Village and School tax depending on income)

    • Renew annually with the Senior Enhanced STAR AUTOMATICALLY
    • Age 65 by 12/31 of current year application is due
    • Own the home or life use and it is your primary residence of all owners
    • Does not receive exemptions on any other property (except agricultural)
    • Income less than $32,400 for 2013
    • Copy income documents including social security

VETERANS (& DISABLED VETERANS)  (County/Town & Village)

Veteran Requirements:

    • No age or income limit
    • Own the home or life use and it is your primary residence
    • Served in military branch during an eligible time period check book
    • Copy of DD214 and percentage of disability letter if applicable
    • No renewal needed
  • RP458 is the application needed to apply for the Veteran's Exemption
    (include your DD 214 form)

AGRICULTURAL (County/Town, Village, School) May also receive an exemption on some Special Districts

Agricultural Exemption requirements

    • minimum 7 acres & 2 year average min. $10,000 income for Farmer OR 
    • less than 7 acres and Farmer's previous 2 year average income of $50,000

DISABILITY   (County/Town and Village)                        NYS Disability Exemption Pamphlet                                                           

Disability Requirements

    • Household income under $32,400 each year
    • Social Security Award Letter stating % and permanent (once) or temporary (annual) status

SOLAR & WIND ENERGY or FARM WASTE ENERGY SYSTEMS  (County/Town, School & Village)

        Eligible for a period of 15 years to the extent of any percentage of increase in assessed value due to the solar panels/wind turbine.  Such property is liable for special ad valorem levies and special assessments.  

ALL EXEMPTION APPLICATIONS ARE DUE BY MARCH 1st

Proof of Age, Ownership & Income may be required