Exemption Application For Owners {EX-01}

NYC DEPARTMENT OF FINANCE INSTRUCTIONS FOR HOMEOWNER EXEMPTION APPLICATION l PROGRAM OPERATIONS DIVISION This application is for the following homeowner property tax exemption programs: n Basic and Enhanced School Tax Relief (STAR) n Senior Citizen Homeowners Exemption (SCHE) n Disabled Homeowners Exemption (DHE) n Veterans Exemption (Basic, Combat and Disabled) overview APPLicAtion DeADLine Your application must be postmarked by March 15, 2015 (please note if the deadline falls on a weekend or national holiday, the application must be postmarked by the following business day). If eligible, benefits will begin July 1, 2015. Please mail applications to: nYc Department of Finance P.o. Box 311 Maplewood, nJ 07040-0311 Faxes will not be accepted. Keep a copy of your completed application and the instructions for your records. Only mail the application. Before mailing your application, please review the application to make sure you completed the application. Please review the Required Documents Checklist (see page 6) to make sure that you have attached all of the required documentation. We cannot process your application without all of the required documents. iMPortAnt section 1 - ProPertY inForMAtion Give the complete address and the Borough, Block and Lot number of the property for which you are seeking tax benefits and the date you purchased the property. The Borough, Block and Lot (BBL) numbers for properties can be found on the Finance website at nyc.gov/bbl or on your deed/stock certificate. For properties other than co-ops, the BBL can also be found on your property tax bill. instructions section 2 - owner inForMAtion This section must be completed for all owners of the property (each person on the deed or stock certificate). Information for all owners is required even if not all of the owners reside at the property. If there are more than two owners, use the Additional Owners Information and Certification form, which is part of this application. American LegalNet, Inc. www.FormsWorkFlow.com Indicate what percentage of the property is used for non-residential purposes, if any, even if it is a 13 family dwelling. Please indicate the type of residence by checking the appropriate box. If the property is a co-op, please provide the Unit number, the number of shares and the name and contact number of the management company/agent. If you checked 4+ family home, please provide the percentage of space used as your primary residence. Instructions for Homeowner Exemption Application Provide the name, date of birth and Social Security number for all owners on the deed or stock certificate. Social Security numbers must be included or Finance cannot process your application. If you are a foreign national, please provide your Individual Taxpayer Identification Number (ITIN). Indicate if this is the primary residence for each owner. Indicate if the owners are spouses or brothers/sisters by checking the appropriate box. Page 2 For properties owned by a trust: If applying for STAR/Enhanced STAR: all beneficiaries, not trustees, must be listed as owners and submit the required documents. For SCHE/Veteran/DHE, all trustees or the sole beneficiary of the property must be listed as owners. However, if additional beneficiaries only benefit from the property after the sole beneficiary is deceased, the property may be eligible. For SCHE, all trustees or the sole beneficiary must live on the property. For Veteran and DHE, at least one trustee or beneficiary must live on the property. For STAR/ESTAR, at least one beneficiary must live on the property. If there is a life estate on the property, then the holder of the life estate must complete the owner information section. A copy of the life estate agreement must be submitted as proof with your application materials. If the property is owned by a business, personal exemptions will not be granted. section 3 - ADDitionAL ProPertY inForMAtion Answer all questions regarding other property owned and the exemption status. If there are multiple properties, please complete and return the Additional Property Information and Certification, on page 4. You may print out and complete multiple copies of page 4, if additional pages are needed. Please include a copy of the trust agreement with your completed application. section 4 - incoMe inForMAtion If you are applying for the Basic STAR, Enhanced STAR, Senior Citizen and/or the Disabled Homeowners Exemption, you must provide proof of income for calendar year 2013 for all owners. Owners who are not required to file a Federal Income Tax return must attach copies of any income documentation, such as a state income tax return, 2013 Social Security Benefits statements or 1099 forms. Owners who file a Federal Income Tax return must attach a complete copy of their 2013 return including all schedules and attachments for all owners. Basic and enhanced stAr: income thresholds and Definitions If you are applying for a Senior Citizen or Disabled Homeowners exemption, attach documentation of any unreimbursed medical or prescription expenses. These expenses will be deducted from your income. n Basic STAR - Total combined household income of $500,000 or less for resident owners and resident spouses. Total combined income is defined as the Federal Adjusted Gross Income less the taxable amount of IRA distributions. Your Federal Adjusted Gross Income can be found as a line item on your 1040, line 37, 1040A, line 21 or 1040EZ, line 4 federal tax form. American LegalNet, Inc. www.FormsWorkFlow.com n Enhanced STAR - Total combined household income of $83,300 or less for all owners and resident spouses, regardless of where they live. Instructions for Homeowner Exemption Application senior citizens and Disabled Homeowners: income thresholds and Definitions Page 3 total combined income for scHeand DHe includes the following: n n n n n n n n n n n n n Senior Citizens and Disabled Homeowners - Total combined income (TCI) of $37,399 or less for all the owners and their spouses regardless of where they live. Please note, TCI is not just your Federal Adjusted Gross Income. All social security payments Salaries and wages (including bonuses) Interest (including nontaxable interest) Ordinary dividends Net earnings from farming, rentals, business or profession (including amounts claimed as depreciation for income tax purposes) Income from estates or trusts Capital gains Gains from sales or exchanges Payments from governmental or private retireme