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The State of New York has recently announced a one-year property tax credit of up to $100,000 to support Green Roof installations. Whether your facility’s plans include a roof replacement, or are interested in helping the NY environment, consider taking advantage of this program!
Urban areas of New York generate considerably more stormwater runoff than natural areas of the same size due to a greater percentage of impervious surfaces, such as roofs, that impede water infiltration. Green Roofs aid in mitigating stormwater runoff, and the property tax credit, passed in June 2008 is designed to improve the infrastructure of storm water management.
The state of New York is the first to pass a major tax incentive for green roof programs. “This is a watershed moment for the green roof industry,” said Steven W. Peck, President of Green Roofs for Healthy Cities, “it recognizes the significant public benefits of green roofs in areas such as stormwater management, cooling cities, saving energy, cleaning the air and beautify our rooftops.”
About the Tax Credit:
- This is a one-year property tax credit
- The Credit is for $4.50/square foot, up to a maximum of $100,000.
- $4.50/s.f. can represent 20%-30% of the costs associated with building a green roof.
Who Qualifies:
- The building must be located in the state of NY with city populations of 1,000,000 or more
- The Green Roof must have at least 2” of growing media.
- The Green Roof must cover at least 50% of available rooftop space.
- Building owners may apply for the credit beginning January 1, 2009
Other Benefits of Green Roofs:
- Reduce cooling cost by keeping the roof top at ambient temperatures
- Extend the life of the roof—up to double normal life—by protecting the membrane
- Reduce carbon dioxide in the air
- Offer additional usable space in your building for a respite from the city
JP Patti, a Tecta America company, is one of the most established roofing contractors in the New York area and a leading green roof installer, having installed more green roofs than anyone else, including the two largest in NYC—the Bronx County Courthouse and the Ikea store.
TectaGreen is a specialized service line of Tecta Environmental Solutions. This is a unique opportunity to use a tax credit to invest in your building, the environment, and the future.
Contact Us to have one of Tecta America’s Green Roof Experts help you get the most of your Green Roof Installation.
Webinar Registration: Sign up for an upcoming Webinar which will discuss this Property Tax Credit in further details. Enter “NY Green Credit” for the “OFFER CODE” field.
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