Relates to the assessment of solar or wind energy systems

Solar and wind property tax rules change

The law immediately changes New York's property tax valuation rules for solar and wind systems. The Department of Taxation and Finance must consult the New York State Assessors Association on its model and discount rate. Both can account for regional costs, economic conditions, and market pressures. The model must count host community benefit payments under part JJJ of chapter 58 of the 2020 laws as expenses. It must also count system removal expenses and community solar subscriber-management costs. Federal investment and production tax credits and environmental values, including renewable energy credits, are treated as intangible assets, not revenue. Local assessing units using the department's 2025 model are protected from assessment-review costs under Real Property Tax Law section 722. This protection also covers units agreeing to use that model to settle an Article 7 assessment challenge. The law does not specify changes to individual tax bills or require savings to reach households.