[Adopted 11-22-2016 by L.L. No. 5-2016]
This article shall be known as the Town of Greenfield Alternative
Energy Tax Exemption Option Law. It is adopted pursuant to Municipal
Home Rule Law Section 10 and Real Property Tax Law Section 487.
Under Real Property Tax Law Section 487, real property which
includes a solar or other alternative energy system shall be exempt
from taxation to the extent of any increase in value by reason of
the inclusion of such solar or other alternative energy system for
a period of 15 years. However, Real Property Tax Law Section 487 further
provides in Subsection 8 that the Town may provide that no exemption
under Section 487 shall be applicable to Town real property taxes
on properties within its jurisdiction by adopting a local law to that
effect. The Town Board wishes to adopt such a local law in order to
opt out of the tax exemption.
Pursuant to Real Property Tax Law Section 487(8), the Town of
Greenfield hereby opts out of the exemption from Town real property
taxes granted by Real Property Tax Law Section 487(2) and related
subsections. No exemption under Section 487 shall be applicable to
Town real property taxes on any solar or other alternative energy
system the construction of which begins subsequent to the effective
date of this article.
