Hi everyone, I recently bought a co-op (November 2012) and today I received an email from my co-op management company that there was a tax abatement / assessment for 2013. The abatement was $1,100 and the assessment was $1,000. Is this normal? Also, the more important part is that I was also told that I could have received around $300 for the STAR program had I called #311 prior to 3/31/2013 and... [more]
Hi everyone,
I recently bought a co-op (November 2012) and today I received an email from my co-op management company that there was a tax abatement / assessment for 2013. The abatement was $1,100 and the assessment was $1,000. Is this normal?
Also, the more important part is that I was also told that I could have received around $300 for the STAR program had I called #311 prior to 3/31/2013 and filled out paperwork stating I am a full-time resident.
Well, that would have been nice to know about at any time prior to 3/31/2013 (super annoyed about missing out on free $$). I will be applying next year with a vengence.
I just wanted to know if there were any other secrets for first time owners that would be nice to know of free money given by the government or other programs (note: I am not a senior citizen so would prefer to limit this to relevant items for those not of senior citizen age).
Thanks!
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Response by crescent22
almost 13 years ago
Posts: 953
Member since: Apr 2008
normal. the co-op is supposed to return the abatement/refund to you, but most issue an assessment so they can keep the money.
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Response by front_porch
almost 13 years ago
Posts: 5321
Member since: Mar 2008
a whole bunch of real estate attorneys that I work with go out of their way to tell first-time buyers to file for STAR. This is, in my mind, just one of the many little things that justify the sometimes higher fees of the "good" attorneys.
ali r.
DG Neary Realty
Ignored comment.
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Response by apt55
almost 13 years ago
Posts: 127
Member since: May 2012
There are 5 exemptions: Basic/Enhanced STAR, Senior Citizen Home owner (SCHE), Disabled Homeowner (DHE), Veteran, and Clergy. Also, go to NYC.gov, search exemptions. The city's year starts 7/1 so most things need to be filed by 3/31.
normal. the co-op is supposed to return the abatement/refund to you, but most issue an assessment so they can keep the money.
a whole bunch of real estate attorneys that I work with go out of their way to tell first-time buyers to file for STAR. This is, in my mind, just one of the many little things that justify the sometimes higher fees of the "good" attorneys.
ali r.
DG Neary Realty
There are 5 exemptions: Basic/Enhanced STAR, Senior Citizen Home owner (SCHE), Disabled Homeowner (DHE), Veteran, and Clergy. Also, go to NYC.gov, search exemptions. The city's year starts 7/1 so most things need to be filed by 3/31.