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It could be spread over a period of 11 month after it is declared. Please note that STAR is a reduction of taxes; so it stands to reason that the year goes for 12 months out of which you get the reduction. Consult the NYS assessor's office whose e-mail is given below:
http://www.orps.state.ny.us/star/cooperative_apartments.htm
If you get assessed when STAR is declared, it may be that the co-op did not collect enough money for taxes during the prior year and, in order to pay shareholders, it first needs to assess for the full tax not collected for the year. Frankly, I detest STAR in co-ops as it becomes the greatest Holiday Club ever invented.
AdC
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Thanks for your help AdC! I totally agree with you, the STAR program seems to be a Holiday Club for my co-op. We have an assessment every year (even after maintenance increases)! Guess it's a difficult habit to break.
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