Law360 (September 15, 2020, 3:26 PM EDT) — On Aug. 20, the New York Point out Supreme Courtroom, Appellate Division, Fourth Office, issued a conclusion in Cornell University v. Board of Assessment Assessment, locating that a solar photovoltaic system is taxable authentic assets.[1] This selection settled, at minimum in the Fourth Office, a authentic home tax issue lengthy regarded as — and feared — by photo voltaic developers.
Though the selection has the potential for substantial impacts on photo voltaic advancement jobs throughout New York condition, it might be achievable to mitigate the economical effect of this tax load with watchful preparing and conscious undertaking decisions.
New York Condition Real Property Tax Regulation Area…
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