Bill > A08332

This bill amends the real property tax law to modify how solar and wind energy systems are assessed for tax purposes by introducing several key changes. The New York State Department of Taxation and Finance will now be required to consult with the New York State Assessors Association when developing an assessment model and discount rate, and they must consider economic and cost characteristics of solar and wind energy systems across different geographic regions of the state. The bill specifies that certain expenses must be included in the assessment, such as host community benefit payments, decommissioning expenses, and community solar subscriber management costs. Additionally, the bill stipulates that federal investment and production tax credits and environmental values like renewable energy credits will be treated as intangible assets and not included as revenue streams. The legislation also provides protection for assessing units using the department's 2025 model, ensuring they will not be subject to cost impositions when settling property assessment reviews. These changes aim to create a more comprehensive and regionally sensitive approach to valuing renewable energy infrastructure for tax assessment purposes.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A8332