New York Legislature Sends Property Tax Exemption Bill To Cuomo

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In a move that is expected to boost renewable energy in the state, the New York legislature has sent Gov. Andrew Cuomo, D-N.Y., a bill that would extend property tax exemptions for wind and solar to Jan. 1, 2025.

The bill carries a 15-year property tax exemption for homeowners and residences installing qualified renewable energy systems. However, local governments are permitted to disallow the exemption in their jurisdictions.

Cuomo has 10 days to either sign or veto the bill. If he does not act, the bill automatically becomes law.

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