How to let New York City help pay for your solar energy?
Here's an example property tax history for a new york city property.
Notice that the Annual property tax bill drops by over $2000.
This is because of a solar discount. It is not clear whether the NYC property tax discount is still valid at 2024.
./nycdofbills.3010340031.20090606.txt:Annual Property Tax $2,214
./nycdofbills.3010340031.20090828.txt:Annual Property Tax $2,214
./nycdofbills.3010340031.20190605.txt:Annual property tax $3,971.92
./nycdofbills.3010340031.20190829.txt:Annual property tax $3,971.92
./nycdofbills.3010340031.20191119.txt:Annual property tax $4,019.00
./nycdofbills.3010340031.20200222.txt:Annual property tax $4,019.00
./nycdofbills.3010340031.20200606.txt:Annual property tax $4,253.12
./nycdofbills.3010340031.20200829.txt:Annual property tax $4,253.12
./nycdofbills.3010340031.20201121.txt:Annual property tax $4,228.60
./nycdofbills.3010340031.20210227.txt:Annual property tax $4,228.60
./nycdofbills.3010340031.20210605.txt:Annual property tax $2,258.72
./nycdofbills.3010340031.20210828.txt:Annual property tax $2,258.72
./nycdofbills.3010340031.20211120.txt:Annual property tax $2,028.48
./nycdofbills.3010340031.20220219.txt:Annual property tax $2,028.48
./nycdofbills.3010340031.20220604.txt:Annual property tax $2,071.80
./nycdofbills.3010340031.20220820.txt:Annual property tax $2,071.80
./nycdofbills.3010340031.20221119.txt:Annual property tax $2,146.16
./nycdofbills.3010340031.20230218.txt:Annual property tax $2,146.16
./nycdofbills.3010340031.20230603.txt:Annual property tax $2,146.16
./nycdofbills.3010340031.20230819.txt:Annual property tax $2,146.16
./nycdofbills.3010340031.20231118.txt:Annual property tax $2,098.00
snapshot below taken 2024-01-07
Solar Electric Generating System (SEGS) Tax Abatement
Provides a property tax abatement to properties that use solar power. Solar power is a reliable, renewable source of electricity. Solar panels generate electricity, recover thermal energy for reuse and act as a roof covering. Using Solar power reduces demand on New York City's electrical grid.
Eligibility:
NYC Department of Buildings (DOB) determines eligibility and approves the application while the Department of Finance administers the benefit.
Class 1, 2 and 4 properties
If you receive ICAP, 421-a, 421-b, 421-g or pay PILOTs, your property is NOT eligible for the Solar Electric Generating System Tax Abatement
Benefit:
The amount of the benefit depends on the date your solar service starts. Use the chart below to locate the percentage of the installation cost based on the service start date.
Your benefit will be either an amount equal to the percentage of your installation cost, an amount equal to your Annual Property Taxes, or $62,500; whichever is lowest.
Service Start Date
% of the Installation Cost
8/5/08 through 1/1/11
8.75%
1/1/11 through 1/1/13
5%
1/1/13 through 1/1/14
2.5%
1/1/14 through 1/1/19
5%
Duration:
The abatement will be applied to your property for a four-year period starting on July 1 following the Department of Buildings approval.