NY A01415

Authorizes municipalities to adopt a local law, ordinance, or resolution providing real property tax exemptions for improvements meeting LEED certification standards for green buildings, effective for construction initiated on or after January 1, 2013.

Exemption applies only to increases in assessed value resulting from LEED-certified construction or reconstruction, with exemption percentages varying by certification level (Certified/Silver, Gold, or Platinum) over a 10-year period.

Certified/Silver properties receive 100% exemption for years 1-3, declining to 0% by year 8; Gold properties receive 100% exemption for years 1-4, declining to 0% by year 9; Platinum properties receive 100% exemption for years 1-6, declining to 0% by year 10.

Exemption requires construction value exceeding $10,000, proof of LEED certification filed with assessor approval, building permits or appropriate documentation, and excludes ordinary maintenance and repairs.

Assessor enters exemptions on assessment rolls with the exemption amount shown separately; exemption commences on the assessment roll prepared after the taxable status date.