NJ Property Tax Excemption for Renewable Energy Systems
| Program Type | Property tax excemption |
|---|---|
| Technologies | Solar Water Heat, Solar Space Heat, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Electric, Fuel Cells, Geothermal Heat Pumps, Resource Recovery, Tidal Energy, Wave Energy , Direct-Use Geothermal Energy |
| Amount | 100% exemption for the value of the qualifying systems |
| Required Documentation | Must complete an application form and have the system assessed by the local assessor |
| Official Web Site | www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=NJ25F&re=1&ee=1 |
New Jersey property owners can get a property tax exemption for 100% of the value of their renewable energy systems.
Eligible renewable energy systems include solar photovoltaics (solar panels), wind, fuel cells, sustainable biomass, geothermal electric, landfill gas, hydroelectric, resource recovery, wave, and tidal systems that produce electricity. Systems that produce energy from solar thermal energy (e.g., solar hot water) or geothermal energy (e.g., geothermal heat pumps) are also eligible.
The value of the exemption is set by the local property tax assessor. The value of the system is subtracted from the assessed value of the property, reducing the amount of property tax owed.
To qualify, systems must meet technical guidelines that are still under development by the NJ Board of Public Utilities and the Commissioner of Community Affairs.
