Rebates and Tax Incentives: New York Green Building Tax Exemption

On July 18th of 2012, Governor Cuomo of New York signed into law the authorization for municipal corporations to provide a tax exemption for improvements to property started after January 1st, 2013 and which meet green certification standards. This state law provides authorization for the local jurisdiction to take action, though local law may specify a later date. All buildings certified as in compliance with ANSI-approved ICC 700 National Green Building Standards are eligible. This property tax exemption is only available if the remodel or renovation increases the previously-assessed value of the property. The value of this improvement must exceed … Continue reading Rebates and Tax Incentives: New York Green Building Tax Exemption