Bill > S08012

This bill amends the real property tax law to provide additional guidelines for assessing solar and wind energy systems through a discounted cash flow approach. Specifically, the bill requires the New York State Department of Taxation and Finance to consult with the New York State Assessors Association when developing an assessment model and discount rate, and allows them to consider regional economic and cost characteristics of these energy systems. The bill mandates that the assessment model must now include host community benefit payments, decommissioning expenses, and community solar subscriber management costs as expenses. Furthermore, the bill stipulates that federal investment and production tax credits and environmental values like renewable energy credits should be treated as intangible assets and not included as revenue streams. An additional provision protects assessing units that use the department's 2025 model from being subject to cost impositions when settling property assessment reviews. These changes aim to create a more comprehensive and nuanced approach to valuing solar and wind energy systems for tax assessment purposes, taking into account the unique financial and environmental characteristics of these renewable energy installations.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S8012