The deadline to apply for NYC’s green roof tax abatement program is approaching fast. The Stormwater Infrastructure Matters (S.W.I.M.) Coalition recently reminded us that applications must be in by March 15, 2014. New legislation also raised the abatement amount slightly and doubled the per-project cap, meaning even more tax benefits for New Yorkers who install green roofs.
The New York State Assembly recently put out a new bill that will bring new tax incentives into effect starting July 1, 2014 until the tax year ends on June 30, 2019. According to the bill, the tax abatement will increase from $4.50 per square foot to $5.23 per square foot of green roofing. The maximum tax write off has also been increased from $100,000 to $200,000 for a single project. In some other recent modifications, the city redefined the term “green roof” by adding native and agricultural plant species to the list of “live plants.”
The city has been a major backer of rooftop gardens, which support its larger plaNYC and Vision 2020 goals. Recently, the Department of Environmental Protection also announced its efforts to make more green ideas into reality with a call for projects to benefit from agency’s $6 million grant fund.
via Green Roofs