Sherrell Dorsey

NY Senate Approves Bill That Offers Big Tax Breaks on Environmentally Friendly Homes

by , 05/22/13

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Yesterday, the New York State Senate approved a bill encouraging the building of more green homes in the state. Initially ntroduced by Senator Mark Grisianti in 2012, the bill would allow local municipalities to authorize a 35 percent tax exemption on environmentally friendly real property for 20 years. Through this legislation, Grisianti hopes to incentivize builders to make the investment in green homes, which may be initially more costly.


 Green homes, environmentally friendly homes, leed homes, leed building ny, energy star certified homes, new york state energy research and development authority, national home builders association, senator mark grisanti, ny green homes

Green homes are gaining in popularity and can make a home more desirable in a slow market,” Grisanti said in a press release. “Homeowners want a home that will reduce their energy costs, be healthier for their family and be kinder to the environment. With this legislation I am eager to help builders decide that the investment in green building will be beneficial. Green builders are not only making homes that exceed building codes and are cost effective to own, but also minimize environmental impact. New York State wants to provide incentives for all new construction to head down this road. I urge my colleagues to act in the Assembly.”

In order for homes to qualify for the tax exemption, they must meet the standards spelled out by the National Home Builders Association or the Leadership in Energy and Environmental Design (LEED). These standards include a variety of energy-efficiency components like improved soil and use of recycled content building materials.

New York is increasingly building energy-efficient homes that cater to conserving energy, water and are healthier for both the environment and occupants. In 2012, the New York State Energy Research and Development Authority reported a 10 percent increase in new energy-efficient residential properties. According to their findings, 2,262 New York ENERGY STAR® Certified Homes were constructed in 2012, compared with 2,049 in 2011.

Via WNY Papers

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