Page 2 of 2 RP-487 (1/18)
Instructions (continued)
This Area for Assessor’s Use Only
Date application led
Applicable taxable status date
Application approved
Application denied
Assessed valuation of exemption granted (see next
column if applicable) ........... $
First assessment roll on which exemption is to be granted.
Last assessment roll on which exemption is to be granted.
(a) Total cost of solar or wind energy
system or farm waste energy
system ............................................. $
(b) Incremental cost of system (cost of
components which make possible the
production of the solar or wind energy
or farm waste energy) ..................... $
(c) Ratio of incremental cost to total
cost
(b ÷ a) ...................................... $
(d) Increase in assessed value of
property attributable to addition of
solar or wind energy system or
farm waste energy system ............. $
(e)
Assessed value exempt due to
addition of system
(d
×
c)
................. $
Assessor’s name (print)
Assessor’s signature Date
Authorization for exemption
Real Property Tax Law section 487 exempts from taxation,
but not special ad valorem levies or special assessments, real
property which includes the following when satisfying guidelines
established by the New York State Energy Research and
Development Authority:
• 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
A solar or wind energy system or farm waste energy system
must be constructed before July 1, 1988, or after January 1,
1991, and before January 1, 2025. Other eligible energy
systems must be constructed after January 1, 2018, and before
January 1, 2025.
A county, city, town, or village may adopt a local law or a school
district (except the city school district of New York City, Buffalo,
Rochester, Syracuse, or Yonkers) may by resolution provide that
either:
1. no solar or wind exemption or farm waste energy system
exemption will apply within its jurisdiction for systems
constructed after January 1, 1991, or the date of such local
law or resolution, whichever is later; or
2. no micro-hydroelectric energy system, fuel cell electric
generating system, micro-combined heat and power
generating equipment system, or electric energy storage
equipment and electric energy storage system exemption
will apply within its jurisdiction for systems constructed after
January 1, 2018, or the date of such local law or resolution,
whichever is later.
Structures that satisfy the requirements for exemption under
Real Property Tax Law section 483-e (anaerobic digestion
facilities) cannot receive this exemption.
Duration and computation of exemption
The exemption is equal to the increase in assessed value of the
property attributable to the inclusion of the energy system and is
to be granted for a period of 15 years. Where the system or its
components are also part of the building structure, the increase
in value to be exempted from taxation equals the assessed
value attributable to the system or components multiplied by
the ratio of the incremental costs of the system or farm waste
energy system or components to the total cost of such system or
components.
Incremental cost is the increased cost of the energy system
or component that also serves as part of a building structure,
beyond that for similar conventional construction, that enables
its use as an energy system or component.
For more information, see the guidelines published by the New
York State Energy Research and Development Authority at
www.nyserda.ny.gov. Note: Municipalities that offer the solar or
wind energy system exemption may require payments in lieu of
taxes not to exceed the amount of the exemption.
