New York A04711 proposes a tax exemption for green development neighborhoods.

New York A04711 amends the real property tax law to establish a tax exemption for green development neighborhoods. These neighborhoods must be certified by the National Green Building Standard or LEED for Neighborhood Development. Individual residential parcels can receive a tax exemption if they meet the certified silver standard. The exemption applies to the increase in assessed value due to the green development. The exemption is granted by local law and can last up to ten years.

New York A04711 proposes a tax exemption for green development neighborhoods.

New York A04711 amends the real property tax law to establish a tax exemption for green development neighborhoods. These neighborhoods must be certified by the National Green Building Standard or LEED for Neighborhood Development. Individual residential parcels can receive a tax exemption if they meet the certified silver standard. The exemption applies to the increase in assessed value due to the green development. The exemption is granted by local law and can last up to ten years.