New York NoSpouseTrust Frequently Asked Questions

Q:  Do I lose the STAR exemption, which reduces my school tax?

A:  No, not if you qualify otherwise on income, occupancy and age (for enhanced STAR).    STAR eligibility looks at the beneficial owners of the property, which for a property owned in trust are the beneficiaries.  So, a beneficiary of the trust must occupy the property.  Read more from the Department of Taxation and Finance here.