NY Bill Would Grant Homeowners Tax Break for Green Improvements

New York homeowners could get a 20-year property tax break if they make upgrades to reduce carbon emissions, under newly passed legislation that awaits Gov. Kathy Hochul’s (D) approval.

The measure, S9688, which would require local government opt-in, would grant owners a 100% exemption on the increased assessed value of their homes resulting from improvements like new solar panels or energy-efficient appliances. The exemption would phase out by 10% annually after a decade.

The bill cleared both chambers of the Legislature Friday soon before lawmakers broke for the year.

Residents wouldn’t be eligible for the tax break ...