Subscribe and receive email notifications of new blog posts.
RSS Feed
TAX BREAK FOR USING SOLAR POWER.
BY MATHEW JOSEPH
Solar power is a reliable, renewable source of electricity. Solar panels generate electricity, recover thermal energy for reuse and act as a roof covering. Using Solar power reduces demand on New York City's electrical grid. This tax abatement provides a property tax abatement to properties that use solar power.
NYC Department of Buildings (DOB) determines eligibility and approves the application while the Department of Finance administers the benefit. Tax Clas Class 1, 2 and 4 properties which does not receive ICAP, 421-a, 421-b, 421-g or pay PILOTs, are eligible for the Solar Electric Generating System Tax Abatement.
The amount of the benefit depends on the date your solar service starts. Use the chart below to locate the percentage of the installation cost based on the service's start date.
|
|
We respect your concerns about privacy and value the relationship that we have with you.
Like many sites, we use cookies on our website to collect information to help improve your browsing experience. The cookies that we use allow our website to work and help us to understand what information is most useful to visitors.
For the best website browsing experience, please enable cookies. Go here for instructions on how to enable cookies on your browser.