Tuesday, December 06, 2011

Tax Cap on STAR savings

NYS Government is capping the increases in savings experienced by School Tax Relief Program (STAR) and Enhanced STAR recipients at 2%. Therefore, during 2012, recipients will still save more than last year, but less than they otherwise would have saved. It appears to be a compromise by legislators in a troubled economy where tax dollars are necessary to found governmental programs. To learn more about this cap, click here.

To learn more about the STAR program overall and legislation concerning this topic, click here.

Savings is better than spending and in this economy any increases in savings is a good thing.