Local Option - Real Property Tax Exemption for Green Buildings (New York)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place New York

Name Local Option - Real Property Tax Exemption for Green Buildings
Incentive Type Property Tax Incentive
Applicable Sector Commercial, Residential, Multi-Family Residential
Eligible Technologies Comprehensive Measures/Whole Building, Passive Solar Space Heat, Solar Space Heat, Photovoltaics, Wind, Biomass, Geothermal Heat Pumps, Daylighting, Anaerobic Digestion, Small Hydroelectric
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount Upon local adoption, 20% - 100% of real property taxes owed; varies by year and certification level






Equipment Requirements Projects must meet the LEED, Green Globes, American National Standards Institute, or substantially equivalent green building certification standards; construction value must exceed 10,000
Start Date 01/01/2013 (earliest date for commencement of construction)


















Program Administrator Administered locally

Date added to DSIRE 2012-08-02
Last DSIRE Review 2013-08-14



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

In July 2012 New York enacted legislation allowing municipal corporations to exempt green buildings from real property taxes. It is important to note that this law allows but does not require local governments to extend favorable property tax treatment to green buildings. In order for the exemption to apply, a municipal corporation must first adopt an ordinance this effect.


In order to qualify for an exemption, the new construction or improvement (does not include routine maintenance or repairs) must commence on or after January 1, 2013; be valued in excess of $10,000; and projects must meet the LEED, Green Globes, American National Standards Institute, or substantially equivalent green building certification standards. Although the law references allowable green building rating systems/certifications other than LEED, the incentive amounts are described in relation to LEED certification levels. The amount of the exemption permitted varies by year and by the certification level achieved. Although not specifically identified in the law, it appears that the "year" refers to the property tax year in which the exemption is first claimed and subsequent years thereafter. The allowable exemption levels, stated in terms of the percentage of total taxes owed, are as follows:


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Incentive Contact

Contact Name Public Information Officer
Department Office of Real Property Tax Services

Address WA Harriman State Campus

Place Albany, New York
Zip/Postal Code 12227
Phone (518) 591-5232


Email orpts.mail@tax.ny.gov
Website http://www.tax.ny.gov/about/orpts/regions.htm
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: NYCL RPT § 470
Date Effective 2012-07-18
Date Enacted 2012-07-18



















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"