The BASIC STAR PROGRAM is available to all resident property owners of 1-,2-, and 3-family houses, condominiums, and cooperative apartments.  There are no age or income requirements.  For these homeowners, the first $30,000 of their primary residence value is exempted from school taxes.  You need apply only one time when you buy the home--you only need to apply again if you buy a  different home.  March 1 is the deadline date to receive the Star Program for that year. 

     The ENHANCED STAR PROGRAM (for Seniors age 65 or over as of December 31st of the exemption year) with an annual adjusted gross income of $74,700 or less may be entitled to a higher tax reduction through this program.  For these homeowners, the first $60,100 of their primary residence value is exempted from school taxes.  The ENHANCED STAR PROGRAM must be applied for ANNUALLY and the deadline date is March 1.

A good site to obtain upated interest rates is (http://realestate.yahoo.com/new_york/lakewood/loans).  You can substitute a different city or a zip code where I have lakewood.