Solar & Battery Regulation & Incentive Programs

Energy Conservation Improvements Property Tax Exemption

Program Overview


Category:
Financial Incentive
Program Type:
Property Tax Incentive
Implementing Sector:
State
State:
New York
Eligible Storage Technologies:
Lithium-ion
Website:
https://www.tax.ny.gov/research/property/assess/manuals/vol4/pt1/sec4_01/sec487.htm
Incentive Amount:
Exemption from real property taxation on the increase in value of the real property by reason of the inclusion of the energy equipment.
Maximum Incentive:
No maximum
Administrator:
New York State Department of Taxation and Finance
Applicable Sectors:
Commercial, Industrial, Residential, Agricultural, Multifamily Residential, Low Income Residential, Senior citizens, Senior citizens, Senior citizens
Start Date:
01/01/2018
Expiration Date:
01/01/2025
Last Updated:
07/13/2020

Summary

In 2017, New York passed Assembly Bill 260, creating an exemption from real property taxes for certain energy equipment including electric energy storage equipment and systems.

Other equipment included in the exemption includes micro-hydroelectric energy systems, fuel cell electric generating systems, and micro-combined heat and power generating equipment systems (all of which were added in the 2017 bill), as well as solar, wind, and farm waste energy systems (all of which were previously included).

The tax exemption lasts for a period of fifteen years from the date that construction started. To qualify for the exemption, electric energy storage equipment must have started construction after January 1, 2018 and before January 1, 2025. The exemption applies to the increase in value of the real property due to the addition of the energy equipment.

Municipalities and school districts can elect to not apply this exemption within their jurisdiction.


Authorities

NameEnacted DateEffective DateExpired Date
Real Property Tax Law § 48710/23/201701/01/201801/01/2025