Purchasing and installing a solar energy system can greatly increase your home’s value. But as many Long Island homeowners know, because of our astronomical property taxes, an increase in home value is a double-edged sword.
The answer: with few exceptions, you will not see an increase in property taxes due to solar panel installation!
New York State Property Tax Exemption for Solar and Wind
This special exemption is part of New York’s billion-dollar initiative to advance solar energy adoption across the state. Generally, when you add a valuable upgrade to your home—like a new addition or extra bathroom—your appraiser will include that added value when determining how much property tax you should pay.
This exemption was created to make it as affordable as possible for New York families to add solar cells and photovoltaic panels to their homes. The exemption is available statewide, but counties, towns, and school districts can choose to opt out of the exemption. The exemption for solar power lasts for 15 years from the date of installation.
NY Solar Property Tax Exemptions on Long Island
On Long Island, nearly every home qualifies for this solar property tax exemption—as of this writing, only one school district in Suffolk County (Shoreham-Wading River Central) requires solar energy systems to be included in the valuation that determines taxation. (A full list of opted-out communities can be found on NY.gov.
How to Qualify for Solar Property Tax Exemption
This exemption is excellent news for homeowners. While home values rise by an average of $15,000 with a solar energy system, city, county, and school district taxes will not reflect that increase. Generally, residents will need to apply for the solar energy exemption with the city or county assessor’s office.
Both active solar electric systems and active solar heating, cooling, and hot water systems are eligible for this property tax exemption. The official exemption guidelines do include certain parameters to ensure that systems are properly and designed and installed for efficient energy production. These criteria include precise placement to take full advantage of the sun and minimum wattage under peak conditions.
Solar Dad & Sons Makes It Easy to Save
Working with a trusted solar energy team like Solar Dad & Sons will help ensure that your system meets these criteria for qualification for Long Island property tax exemptions. We can provide you with all the documentation needed to demonstrate your solar system’s efficiency and capacity, and may be able to point you to the specific offices you’ll need to contact to apply for the exemption. We can also help you leverage any state and federal tax rebates that might be available for your solar energy project.
Ready to start saving money? Contact us today for a free solar energy consultation!