Article Date: 08/20/2012


New York Adopts Law Offering Tax Incentives for Energy-Efficient Green Buildings; CPW Profiles Other States' Recent Actions to Promote Green Buildings


By Steve Rizer

 

New York has adopted a state law that will provide a tax incentive to builders and homeowners who construct energy-efficient green buildings. The measure (S. 1462D/Chapter 188) authorizes a local government or school district to provide a real property tax exemption for new construction or improvements made after the end of this year that meet Leadership in Energy and Environmental Design (LEED) certification standards for green buildings.

 

In addition to LEED certification, the Green Building Initiative’s Green Globes rating system, the American National Standards Institute, or other substantially equivalent standards for certification using a similar program for green buildings as determined by the municipal corporation would also be eligible for the exemption in New York State.

 

The level of exemption would be carried out as follows:

 

Level of Exemption Available via S. 1462D/Chapter 188
YearSilverGoldPlatinum
1100 Percent100 Percent100 Percent
2100100100
3100100100
480100100
56080100
64060100
7204080
802060
90040
100020

 

To be eligible for the tax exemption, the construction must exceed $10,000, be certified as a green building, and be the subject of a valid building permit. Ordinary maintenance and repairs are not eligible for the exemption. The local assessor must approve the exemption, and local governments may establish a maximum exemption amount.

 



NOT YET A SUBSCRIBER?

Purchase a Subscription
with a money-back guarantee
and immediate access

OR

Buy This Item Individually
Price: $20.00


Already a member?

Email:  

Password:  











WPL
PUBLISHING CO, INC.
WPL Publishing - 5750 Bou Avenue #1712 - Rockville, MD 20852

Phone: (301)765-9525  -  Fax: (301)983-4367

All Content and Design Copyright © 2021 WPL Publishing
About Us

Contact Us

Privacy Policy

My Account