Energy Conservation Improvements Property Tax Exemption

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.