Solar Electric Generating System (SEGS) Tax Abatement

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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 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 is equal to 20% of the gross system cost paid over a 4 year period. The maximum eligible benefits is $250,000 or $62,500 a year

 

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 1/1/17

  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.