Jan. 12, 2024 By Iryna Shkurhan
With tax season here, state Sen. John Liu is hosting information sessions in partnership with the NYC Department of Finance (DOF) to help residents apply for rent and property tax relief.
New York homeowners, for instance, who meet certain criteria can save hundreds to thousands of dollars on their annual property taxes this year. Homeowners are advised, depending on their situation, to challenge the assessed value of their property, with a lower value reducing their tax bill. Depending on their home classification, they have until March 1 or March 15 to appeal their assessed property value and apply for relief.
“Determining eligibility and navigating paperwork is never easy, so we are bringing tax professionals from the DOF to northeast Queens so residents can speak directly to representatives and walk through the process with them,” said Senator Liu. “Economic times are tough, and we strongly encourage New Yorkers, especially our seniors who live on fixed incomes and are trying to make sure every penny counts, to attend these information sessions.”
During the three free sessions, residents will learn about various exemptions that they may qualify for. Rent exemptions, such as freezes or exemption from future increases, are available for senior citizens over the age of 62, and for tenants with a disability.
Homeowners have more exemptions available to them. For instance, there’s the Disabled Homeowners Exemption (DHE) for disabled homeowners with an income of $58,399 or less. Owners of a one, two or three family home, as well as a condo or cooperative apartment, can qualify for a reduced home value assessment by as much as 50 percent. The same qualifications apply for the Senior Citizen Homeowners’ Exemption (SCHE).
Attendees of the sessions can also learn more about the DOF’s assessment of property value, as well as the School Tax Relief (STAR) credit.
The Veterans Tax Exemption can also lower property taxes for veterans, spouses and parents of soldiers who died in active duty.
Assembly Members Ed Braunstein, Nily Rozic, Ron Kim, and David Weprin, as well as Council Members Linda Lee, Sandra Ung and James Gennaro will be co-hosting the sessions in their respective districts.
Below are the upcoming sessions free to attend:
Wednesday, Jan. 17 at Main Street Flushing Library, 41-17 Main St., Flushing, NY 11355 from 5 to 7 p.m.
Tuesday, Feb. 13 at Korean Community Services Center, 203-05 32nd Ave., Bayside, NY 11361 from 2 to 4 p.m.
Wednesday, March 6 at Hillcrest Jewish Center, 183-02 Union Tpke., Fresh Meadows, NY 11366 from 5 to 7 p.m.