|Program Name:||Real Property Tax Exemption for Green Buildings|
|Program Sponsor:||New York State|
|Program Type:||Tax Exemption|
|Technology:||Energy Efficiency/Renewable Energy Systems (Comprehensive Whole Building, Passive Solar Space Heat, Solar Space Heat, Photovoltaics, Wind, Biomass, Geothermal Heat Pumps, Daylighting, Anaerobic Digestion, Small Hydroelectric)|
|Eligibility:||Projects must meet the below requirements.|
In July 2012 New York enacted legislation allowing municipal corporations to exempt green buildings from state real property taxes for up to ten years. The amount of the exemption permitted varies by year and by the certification level achieved.
Additionally, local governments may elect to extend favorable property tax treatment to green buildings under the law, but are not required to do so.
Projects must achieve certification of results in order to be eligible for an exemption, and the exemption must be approved by the local assessor prior to taking effect.
In order for the exemption to apply, a municipal corporation must first adopt legislation authorizing property tax exemptions for green buildings.
Requirements for claiming the exemption include:
How the Program Works
If allowed by local option, construction of improvements commenced after January 1, 2013 or later date specified in local law that are certified as meeting one of three levels of energy efficiency and environmental standards is partially exempt from taxation but liable to special ad valorem levies and special assessments. If the exemption is locally authorized, the exemption benefit will depend upon the level of LEED certification (or its equivalent) of the eligible project.
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 allowable exemption levels, stated in terms of the percentage of total taxes owed, are as follows:
|Year||LEED Certified/Silver||LEED Gold||LEED Platinum|
How to Apply
Fill out the Application for Real Property Tax Exemption for Green Buildings to apply for the tax exemption.
Public Information Officer
WA Harriman State Campus
Albany, NY 12227