What NY Tax Ruling Means For Solar Power Developers

Law360 (September 15, 2020, 3:26 PM EDT) -- On Aug. 20, the New York State Supreme Court, Appellate Division, Fourth Department, issued a decision in Cornell University v. Board of Assessment Review, finding that a solar photovoltaic system is taxable real property.[1] This decision settled, at least in the Fourth Department, a real property tax question long considered — and feared — by solar developers.

Although the decision has the potential for significant impacts on solar development projects throughout New York state, it may be possible to mitigate the financial impact of this tax burden with careful planning and mindful project decisions.

New York State Real Property Tax Law Section...

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