Politics & Government

5 Tax Breaks to Know About

Here are five things to know about today in Half Hollow Hills.

1. Volunteer firefighters and ambulance workers: Those with at least five years of active service in the Town of Huntington or Town of Babylon can file for New York State’s property tax exemption. The property must be owned by the volunteer or the volunteer and spouse. There is only one exemption per person, but multiple qualifying homeowners may receive multiple exemptions. Completed applications must be filed with the Assessor’s office by March 1 and must include a valid certification from the District regarding the volunteer’s active years of service.

2. Veterans and un-remarried spouses of veterans: There are several New York State property tax exemption programs  available to veterans, including for those who served during wartime, those who served in active combat, Cold War Veterans who served during non-combat years and Gold Star Parents. The property must be the primary and legal residence of the veteran and the veteran must supply a DD-214 received upon separation from the service. Applications must be filed or postmarked on or before March 1.

3. Basic STAR and Enhanced STAR exemptions: The STAR program works in two parts; Basic STAR is available to New Yorkers who own and live in their own home, condominium, or co-operative apartment, as a primary residence, provided their household income does not exceed $500,000. Enhanced STAR is available to senior citizens aged 65 and older. First time applicants must have an adjusted gross income that does not exceed $79,050 for the 2010 tax year and submit proof of age and income documentation. The Enhanced STAR exemption must be renewed each year, by submitting a renewal application and income documentation or through the automatic renewal Income Verification Program.

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4. Energy and Appliance Tax Credit: This credit applies to taxpayers who made energy-efficiency improvements to their homes in 2011. You may be eligible for a tax credit of 10 percent for the cost, up to a maximum of $500. Approved improvements include new windows, insulation, high efficiency furnaces, water heaters and air conditioning, among many others, but you will need your receipts and manufacturer certification as back-up. (Energy Star has a list of items that qualify for the tax deduction).

5. Two Extra Days to Prepare: Taxpayers will have two additional days to file their 2011 tax returns this year since April 15 falls on a Sunday and Emancipation Day, a holiday observed in the District of Columbia, falls on Monday, April 16. Therefore, all taxpayers will have until Tuesday April 17 to file this year. Those requesting an extension will have until October 15.

Find out what's happening in Half Hollow Hillswith free, real-time updates from Patch.


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