2016 New York Laws
RPT - Real Property Tax
Article 4 - EXEMPTIONS
Title 4-C - (499-AAAA - 499-GGGG) SOLAR ELECTRIC GENERATING SYSTEM TAX ABATEMENT FOR CERTAIN PROPERTIES IN A CITY OF ONE MILLION OR MORE PERSONS
499-BBBB - Real property tax abatement.

  499-bbbb.  Real  property tax abatement. An eligible building shall
  receive an abatement of real property taxes as provided  in  this  title
  and the rules promulgated hereunder.
1. The amount of such tax abatement shall be as follows:
(a) if the solar electric generating system is placed in service on or
  after  the  effective  date  of this title and before January first, two
  thousand eleven, for  each  year  of  the  compliance  period  such  tax
  abatement  shall be the lesser of (i) eight and three-fourths percent of
  eligible solar electric generating system expenditures, (ii) the  amount
  of  taxes  payable  in  such  tax year, or (iii) sixty-two thousand five
  hundred dollars; or
(b) if the solar electric generating system is placed in service on or
  after January first, two thousand eleven, and before January first,  two
  thousand  thirteen,  for  each  year  of  the compliance period such tax
  abatement shall be the lesser of (i)  five  percent  of  eligible  solar
  electric  generating  system  expenditures,  (ii)  the  amount  of taxes
  payable in such tax year,  or  (iii)  sixty-two  thousand  five  hundred
  dollars; or
(c) if the solar electric generating system is placed in service on or
  after  January  first,  two thousand thirteen, and before January first,
  two thousand fourteen, for each year of the compliance period  such  tax
  abatement  shall  be  the  lesser  of (i) two and five-tenths percent of
  eligible solar electric generating system expenditures, (ii) the  amount
  of  taxes  payable  in  such  tax year, or (iii) sixty-two thousand five
  hundred dollars.
(d) if the solar electric generating system is placed in service on or
  after January first, two thousand fourteen, and  before  January  first,
  two  thousand  nineteen, for each year of the compliance period such tax
  abatement shall be the lesser of (i)  five  percent  of  eligible  solar
  electric  generating  system  expenditures,  (ii)  the  amount  of taxes
  payable in such tax year,  or  (iii)  sixty-two  thousand  five  hundred
  dollars.
2.  Such  tax  abatement  shall  commence  on July first following the
  approval of an application for tax abatement by a designated agency, and
  may not be carried over to any subsequent tax year.
3. With respect to any eligible building held in the condominium  form
  of  ownership that receives a tax abatement pursuant to this title, such
  tax abatement benefits shall be apportioned among all of the condominium
  tax lots within such eligible building.
4. If, as a result of application to the tax  commission  or  a  court
  order  or  action  by  the  department of finance, the billable assessed
  value for any fiscal year in which the tax abatement is taken is reduced
  after the assessment roll becomes final, the department of finance shall
  recalculate the abatement so that the abatement granted shall not exceed
  the annual tax  liability  as  so  reduced.  The  amount  equal  to  the
  difference between the abatement originally granted and the abatement as
  so  recalculated  shall be deducted from any refund otherwise payable or
  remission otherwise due as  a  result  of  such  reduction  in  billable
  assessed value.