Real Property Tax Law (RPTL) section 487 provides a fifteen-year property tax exemption for certain renewable energy generating systems and equipment. This exemption is subject to local option, meaning that taxing jurisdictions may – by local law or resolution – opt out of offering the tax exemption under RPTL section 487.
In accordance with RPTL section 487 8(a), taxing jurisdictions shall file a copy of the local law or resolution with the New York State Energy Research and Development Authority (NYSERDA). A record of relevant local laws and resolutions filed with NYSERDA is made accessible by the “Real Property Tax Law Section 487 opt-out forms filed with NYSERDA: Beginning 2018” dataset.
NYSERDA offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and accelerate economic growth. reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.