§ 575-B — Solar or wind energy systems

New York § 575-B

• Jurisdiction: New York
• Law RPT: Real Property Tax
• Title 4: Miscellaneous Provisions
• Art. 5: Assessment Procedure

Text

§ 575-b. Solar or wind energy systems. 1. The assessed value for solar\nor wind energy systems, as defined in section four hundred eighty-seven\nof this chapter, shall be determined by a discounted cash flow approach\nthat includes:\n (a) An appraisal model identified and published by the New York state\ndepartment of taxation and finance, in consultation with the New York\nstate energy research and development authority, within one hundred\neighty days of the effective date of this section, and periodically\nthereafter as appropriate; and\n (b) A solar or wind energy system discount rate or rates published\nannually by the New York state department of taxation and finance;\nprovided that prior to such publication, such discount rate or rates\nshall be published in preliminary form on the department's website and\nnotice thereof shall be sent to parties who have requested the same. The\ndepartment shall then allow at least sixty days for public comments to\nbe submitted, and shall consider any comments so submitted and make any\nchanges it deems necessary prior to publishing the final discount rate\nor rates; and\n (c) In the formulation of such a model and discount rate, the New York\nstate department of taxation and finance shall consult with the New York\nState Assessors Association. Provided, further, in the formulation of\nsuch a model and discount rate, the New York state department of\ntaxation and finance shall be authorized to take into account economic\nand cost characteristics of such solar and wind energy systems located\nin different geographic regions of the state and consider regionalized\nmarket pressures in the formulation of the appraisal model and discount\nrate required under this section; and\n (d) Host community benefit payments made pursuant to part JJJ of\nchapter fifty-eight of the laws of two thousand twenty, expenses\nassociated with decommissioning of solar and wind energy systems, and\ncommunity solar subscriber management costs associated with solar energy\nsystems shall be included as expenses; and\n (e) Federal investment and production tax credits granted by the\nInternal Revenue Code and environmental values, including but not\nlimited to, renewable energy credits, shall be deemed intangible assets\nand not included as revenue streams.\n 1-a. Notwithstanding any provision of law to the contrary, the solar\nor wind energy system appraisal model authorized by this section shall\nbe identified, formulated, adopted, published, and updated periodically\nin the manner provided in this section without regard to the provisions\nof article two of the state administrative procedure act.\n 2. The reports required by section five hundred seventy-five-a of this\ntitle shall be designed to elicit such information as the commissioner\nmay reasonably require for the development and maintenance of an\nappraisal model and discount rate.\n 3. The provisions of this section shall only apply to solar or wind\nenergy systems with a nameplate capacity equal to or greater than one\nmegawatt.\n 4. Complaints with respect to assessments determined under this\nsection shall be governed by sections five hundred twelve and five\nhundred twenty-four of this article and the following provisions:\n (a) The assessor shall, upon request, provide the owner with the\ninputs that he or she entered into the commissioner's appraisal model\nwhen valuing the property pursuant to this section.\n (b) The property owner may advise the assessor of any alleged errors\nto the appraisal model inputs believed to have been made by the\nassessor, and may provide information to the assessor in support of any\nproposed change to those inputs.\n (c) If the property owner provides such information to the assessor\nprior to the filing of the tentative assessment roll, the assessor may\nmake such adjustments to the appraisal model inputs as he or she deems\nwarranted based upon the information provided by the property owner, and\nmay recalculate the property value by entering the adjusted inputs into\nthe appraisal model.\n (d) If dissatisfied with the assessed value appearing on the tentative\nassessment roll, the property owner may file a complaint with the board\nof assessment review; provided, however, that the grounds for review of\nan assessment determined under this section with respect to both article\nfive and article seven of this chapter shall be limited to the accuracy\nof the appraisal model inputs made by the assessor.\n (e) Actions or proceedings that challenge the validity and accuracy of\nthe appraisal model or discount rates established under this section may\nnot be commenced against assessing units. Such challenges may only be\nbrought by commencing an action against the commissioner in the third\ndepartment of the appellate division of the supreme court in the manner\nprovided by article seventy-eight of the civil practice law and rules.\n 5. Any assessing unit establishing valuations on the basis of the\nmodel published by the department in two thousand twenty-five, including\nan assessing unit that has stipulated to rely on such model to settle a\nproceeding to review an assessment of real property pursuant to article\nseven of this chapter, shall not be subject to imposition of costs\npursuant to section seven hundred twenty-two of this chapter.\n