[Adopted 10-8-2020 by L.L. No. 2-2020]
New York Real Property Tax Law § 487 exempts real
property which includes a solar or wind energy system, farm waste
energy system, micro-hydroelectric energy system, fuel cell electric
generating system, micro-combined heat and power generating equipment
system, electric energy storage equipment and electric energy storage
system, or fuel-flexible linear generator electric generating system
from taxation to the extent of any increase in the value thereof by
reason of the inclusion of system for a period of 15 years. Real Property
Tax Law § 487 further provides the Town of Copake with the
option to opt out of the RPTL § 487 tax exemption by enacting
a local law stating that no exemption under RPTL § 487 shall
be applicable within Copake's jurisdiction. The Town Board of
the Town of Copake finds that it is in the best interest of the Town
to tax property value increases related to real property potentially
subject to the exemption granted under RPTL § 487 at its
full assessed value.
The tax exemption made available by Real Property Tax Law § 487
shall not be applicable within the boundaries of the Town of Copake
with respect to any solar or wind energy system, farm waste energy
system, micro-hydroelectric energy system, fuel cell electric generating
system, micro-combined heat and power generating equipment system,
electric energy storage equipment and electric energy storage system,
or fuel-flexible linear generator electric generating system hereafter
constructed, or to any other energy system eligible for the real property
tax exemption pursuant to § 487 of the Real Property Tax
Law.
